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Japan’s Nintendo Co Ltd is posed to rally further, sustaining its decade-high earnings streak. The positive record is expected next week as sales of the recently-released gaming console Switch surged amid quarantine restrictions.
Nintendo’s operating profit is forecasted to have an 80% increase on May 7, surging to 54 billion yen ($505 million) for the first quarter of 2020 – an estimate last seen back when the Wii console peaked the market.
The earnings will sum up the first 12 days of sales of Animal Crossing: New Horizons, with its popularity mainly from casual gamers staying at home due to the coronavirus outbreak.
Virus-driven restrictions have been contributing heavily to home entertainment sales. However, these policies brought challenges to Nintendo’s supply chain as a slump in a hybrid home-portable Switch device emerged as the primary issue.
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
European shares fell earlier on Monday, weighed down by travel stocks after the U.K. placed a quarantine on travelers from Spain as the number of COVID-19 cases continue to surge. The pan-European STOXX index lost 0.5% at 0718 GMT. Meanwhile, ...
The Dollar traded lower earlier on Thursday in European markets after new hope of an economic recovery in Europe bolstered sentiment. The Dollar index fell by 0.1% to 954.808 at 3:10 AM ET (0710 GMT), gaining only slightly from the four-month ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
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