i_SVG Created with Sketch.

Capital Markets Elite Group is not a registered U.S. broker-dealer. It does not accept a U.S. Person as a client if that person was solicited by Capital Markets Elite Group. (The definition of “U.S. Person” is here.) Capital Markets Elite Group will rely on a certification from a potential customer that the potential customer either is not a U.S. Person or has not been solicited, directly or indirectly, by Capital Markets Elite Group and has not been induced by Capital Markets Elite Group to engage in securities transactions. In particular, they must certify that they were directed to this website by someone other than Capital Markets Elite Group. They must also certify that they understand that they will not be protected by U.S. laws, regulations and supervisory structures applicable to broker-dealers registered in the U.S. and they do not expect such protections to apply. You should give these certifications only if they are true. If you wish to proceed to the website knowing that, please click “Continue” below. Otherwise click “Leave Website”

Leave Website
CPro $0 Commission | $0 ECN Fees Promotion for the period 04th November 2024 - 31st January 2025. Click here for Terms and Conditions.

Cash Back Promotion for the period 16th September 2024 - 15th December 2024. Click here for Terms and Conditions.

Level Up to $0 Commission Promotion for the period 16th September 2024 - 15th December 2024. Click here for Terms and Conditions.
Start Trading
Equities and ETFsOptions
CProCAP it ALLDAS Trader ProSterling Trader ProCompare Platforms
Pricing StructureEquities and ETFsOptionsMarket DataTrade Ideas Bundles
About UsTrends and InsightsContact UsFAQs
Start Trading Login
Nintendo Drops as Switch Demand Cools.

Nintendo Drops as Switch Demand Cools. Outlook Looks Weak.

Feb 8, 2023 | About 5 Mins

Nintendo shares performed lower than anticipated as demand cools for the Switch consoles and software. The Japanese videogame company has reduced its sales outlook for both hardware and software from an initial forecast of 1.65 trillion YEN ($12.6 million) down to 1.6 trillion yen ($12.2 million). In a statement, Nintendo commented that they "will strive to invigorate the platform by continually introducing new titles as well as motivating even more people to keep enjoying Nintendo Switch." Nevertheless, expected sales of the hardware units were reduced by approximately 5.3% to 18 million and forecasted sales for the software were reduced by 2.4% from 210 million to 205 million. Nintendo is joined by other videogame companies that have also tempered performance expectations for the coming fiscal year.

Nintendo reported fiscal third-quarter revenue of 638.2 billion yen, which matched analyst projections, based on FactSet data. Furthermore, the company's earnings per share of 99.44 yen exceeded the anticipated 99 yen per share, as reported by FactSet. In contrast, Take-Two Interactive Software (TTWO) reported disappointing results and decreased its outlook on Monday. Nintendo expressed that supply shortages of semiconductors and other components hindered hardware production until late summer. Subsequently, the company's American depositary stock decreased by 4.5% to $10.10 in Tuesday's trading. Nintendo shared that, by December 31st, a total of 122.55 million lifetime Nintendo Switch units had been sold, whereas software sales on the system reached 994.3 million. Mario Kart 8 Deluxe was the top-selling game, with 52 million units sold, followed by Pokemon Scarlet and Pokemon Violet, which combined for 20.6 million units by the end of the quarter.

This content is provided for general information purposes only and is not to be taken as investment advice nor as a recommendation for any security, investment strategy or investment account.