Nintendo’s Earnings Miss Echoes Sony Games Woes

Nintendo’s Earnings Miss Echoes Sony Games Woes

Nintendo Co. reported worse-than-expected first-quarter earnings on Wednesday as a weaker yen failed to offset declining hardware and software sales.

The Kyoto-based company reported operating profit of 101.7 billion yen ($763 million) and sales of 307.5 billion yen in the three months to the end of June, missing average analyst estimates of 115.2 billion yen and 332.1 billion yen, respectively. The company said manufacturing bottlenecks affected Switch sales and its current production is behind schedule. It expects to catch up on production from the late summer.

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