Nintendo lifts annual profit outlook on strong Switch console sales

TOKYO (Reuters) - Japanese videogames maker Nintendo Co Ltd on Monday raised its full-year operating profit forecast as supply shortages on the Switch console began to ease.

It forecast profit of 120 billion yen ($1.06 billion) for the year ending March, up from 65 billion yen estimated three months ago.

That compared with a Thomson Reuters Starmine SmartEstimate of 133.60 billion yen drawn from the forecasts of 22 analysts. SmartEstimates give greater weight to recent estimates by the more consistently accurate analysts.

Nintendo raised its Switch sales forecast for the financial year through March to 14 million units from 10 million units.