Nintendo profit plunge 55% as sales of Switch console slump

Nintendo on Friday reported a 55% drop in profit as sales of its seven-year-old Switch console have dropped off. Shares dropped nearly 10% on Friday after the disappointing earnings report. The Japanese video game company missed LSEG analysts' expectations in its first quarter, which runs through June like the Bank of Japan's fiscal year. Nintendo reported revenue of 246.6 billion yen, or $1.68 billion, which fell below estimates of$1.97 billion. Shares dropped nearly 10% on Friday after the disappointing ...