Nintendo cuts profit forecast as strong yen overwhelms Pokemon

3ds-2016-2017-software

The company only managed to churn out a net profit thanks to a sale of its majority stake in Major League Baseball's Seattle Mariners, which netted 62.7 billion yen.

But the Super Mario maker's net profit in the latest period jumped more than three-fold to JPY 38.3 billion, as it booked a one-time gain from the sale of its controlling stake in the United States baseball team in the summer.

Shares in Nintendo (NTDOY) may suffer in NY today after the seller of hit smartphone game Pokémon Go cut its full-year sales and profit guidance due to a stronger-than-expected yen and a weaker sales outlook.

There was some good news to come from the second quarter for Nintendo.

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The company posted a 812 million yen ($7.79 million) loss for the three months to September 30, versus a 7.83 billion yen profit in the same period a year earlier. Pokémon Go has apparently caused a spike in 3DS sales, which were up 19%, and was responsible for a surge in popularity for some of the older Pokémon games.

In a three-minute video posted on its YouTube channel last week, the firm unveiled its hybrid Nintendo Switch which can be played at home and on the go, thanks to a removable screen with the controllers attached.

Beyond this business year, Nintendo is counting on its first game console in four years to drive earnings growth.

Nintendo profits from Pokemon GO through investments in Pokemon Co and Niantic Inc.

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Nintendo had earlier ventured into mobile gaming by releasing the Nintendo DS handheld.

Some analysts were very surprised that Nintendo booked a profit related to Pokemon products.

Looking forward, Nintendo singles out Pokemon Sun and Moon, Super Mario Maker for 3DS, the Nintendo Switch, the NES Classic Edition, its upcoming smartphone games, and "a range of strong third-party titles" as its major prospects.

Nintendo shares ended down 0.7 percent at JPY 24,520 Wednesday, before the earnings release.

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