Nintendo shares fall after cutting full-year outlook

TOKYO (Reuters) - Shares of Nintendo Co Ltd dropped more than 4 percent on Wednesday after it cut its full-year profit forecast due to weak sales of console games.

The company on Tuesday reported its first quarterly profit in a year as its nascent mobile games division started to bring in revenue.

But it said it now expects operating profit of 20 billion yen ($176 million) for the year ending March, saying downloads of console games and sales of "amiibo" character goods are likely to be lower than earlier forecast.

The company is holding a strategy briefing on Wednesday.

Nintendo shares traded down 4.5 percent at 22,080 yen in the early morning session, compared with the broader market's 0.6 percent fall.

 

(Reporting by Taiga Uranaka; Editing by Joseph Radford)