Shares of Nintendo, SoftBank tumble after earnings

TOKYO :Shares of Japan's Nintendo Co Ltd and SoftBank Group Corp fell sharply on Wednesday, after both companies jolted investors with disappointing results, emphasising the dim outlook for global tech firms.

SoftBank shares fell 6.6 per cent after it reported a quarterly loss, hit by its massive Vision Fund investment unit, which fell into the red for the fourth straight quarter. The global tech investor also gave a cautious outlook. "The Nintendo Switch is now a six-year-old console and demand is now exhausted," analyst Mark Chadwick said on Smartkarma.

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Shares of Nintendo, SoftBank tumble after earningsTOKYO : Shares of Japan's Nintendo Co Ltd and SoftBank Group Corp fell sharply on Wednesday, a day after both unveiled earnings that fell short of expectations, as tech firms around the globe send a cautionary signal to investors.Shares of Nintendo were down 8.3 per cent in early Tokyo trade, while SoftBa I would have a Column showing why Soft Bank shares tumble, just cyclical.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »