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Nintendo shares increase following strong sale of Switch Lite



Participants play Super Mario video games at the Nintendo Co. exhibition stand at Gamescom Games Industry Event in Cologne, Germany, Tuesday, August 20, 2019.

Krisztian Bocsi | Bloomberg | Getty Images

Nintendo shares rose on Friday after the Japanese gaming company said on Thursday that operating profit for the second quarter more than doubled amid strong sales for the recently launched Switch Lite device.

At Friday's close market in Japan, the Nintendo Stock rose 7.46%.

Between Switch Lite's launch on September 20 and the end of the quarter, Nintendo said it sold 1

.95 million units of the only handheld device.

Sales figures for Switch Lite – a stripped-down and cheaper version of Nintendo's flagship Switch console – are closely followed by the market. Analysts previously told CNBC that the device was part of Nintendo's strategy of selling more than one Switch console to each household.

"We expect Switch Lite's sales volume to reach 3 (million) throughout the year, so 2Q total sales of 1.95 (million) were a surprise," Morgan Stanley analysts said.

Meanwhile, 4.98 million units of the hybrid console switch were sold during the six months to September.

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In a note after the release, analysts at Morgan Stanley said that Nintendo's operating profit of 24.6% for the second quarter was "well above" levels seen in the same period one year ago at 14% as well as the previous quarter. 15.9%. They said the improvement was "helped significantly" by recent installments in Super Mario Maker, Fire Emblem and Legend of Zelda franchises.

The titles – Super Mario Maker 2, Fire Emblem: Three Houses, and Legend of Zelda: Link & # 39; s Awakening – have combined to sell 9.35 million units since launch, according to data from Nintendo. All three games have also been relatively well received by critics, and each game has a metascore beyond 85 on Metacritic, from November 1.

September also saw the long-awaited release of a mobile version of Mario Kart, a franchise that has consistently ranked among Nintendo's best-selling games across the devices dating back to at least its DS handheld, according to the latest data released by Nintendo on the investor relations website.

The Mario Kart Tour was downloaded more than 123 million times during the period, according to data from Sensor Tower Store Intelligence. Still, the average revenue for the title is low, with an average of 26 cents spent per player, according to Sensor Tower. In comparison, another Nintendo title Dragalia Lost earned $ 16.50 per player in the first month.


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