Nintendo profits rise on customs duty refunds
During the quarter ending in June, Japanese company Nintendo's results exceeded analysts' expectations, supported by the recovery of customs duties from the United States and strong game sales, despite declining revenues and sales of the Switch 2 console. Compared to the previous year, net profits increased by 53.5% to $934 million, while operating profits surged by 150.5% to 14.25 billion yen. The company benefited from a customs duty refund of approximately $300 million, and its gaming division delivered solid performance with sales reaching 9.46 million copies across various titles. Meanwhile, sales of the Switch 2 declined to 3.82 million units. Despite rising memory prices, Nintendo maintained its annual forecasts for operating profits and console sales, reaffirming ongoing challenges related to tariffs.
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