Nintendo heading for best holiday in years as profits triple, Bloomberg says
In a new Bloomberg report, it’s stated that eight analysts have raised profit estimates or ratings for Nintendo since September. The two most recent ones have called for profits to triple to 36.8 billion yen.
Tomoaki Kawasaki, an analyst from Iwai Cosmo Securities Co., said:
“Nintendo has picked up good momentum heading into the Christmas season. This time they have a hit lineup. Amiibo represents a new revenue source, and we are watching it very closely.”
Ace Research analyst Hideki Yasuda also stated:
“Last year was just a bad year for the game business, and this year is a recovery. Add to that Amiibo, and you’re likely to see a considerable improvement in earnings.”
Bloomberg goes on to say that Nintendo expects to take in $1 billion from amiibo sales in the U.S. alone. This figure has come in to question and some believe that the outlet intended to refer to yen instead. In any case, things are looking up for Nintendo.
