Nintendo shares fall as much as 5% after conservative earnings guidance

Nintendo shares fall as much as 5% after conservative earnings guidance

FILE PHOTO: The Nintendo booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles
The Nintendo booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, US, Jun 13, 2017. (Photo: Reuters/Mike Blake)

TOKYO: Nintendo Co Ltd's shares fell as much as 5 per cent in early Tokyo trading, a day after the gaming company offered conservative earnings guidance and urged caution on the roll-out of its Switch console in China.

Nintendo's shares were down 3.2 per cent at 0930 local time, underperforming the benchmark index which was down 0.8 per cent.

The Kyoto-based gaming company said on Thursday (Apr 25) it expected to shift 18 million Switch consoles and 125 million software units this financial year.

That software forecast is seen by some analysts as conservative given a games pipeline that includes two full Pokemon titles and the latest in the Luigi's Mansion and Animal Crossing series.

Source: Reuters/zl

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