Nintendo beats earnings thanks to US tariff refunds it won’t share with gamers
Nintendo reported a 150% increase in operating profits, largely driven by US tariff refunds and strong software sales. The company is currently facing legal challenges from consumers who argue that these refunds should be passed on to them after price hikes.
Nintendo has smashed its first-quarter earnings estimates for the fiscal year, bolstered by strong games sales and US tariff refunds, though its customers likely won’t receive anything from the latter. In its latest financial results, Nintendo reports that operating profits soared to 142.5 billion yen (about $902 million) between April 1st and June 30th, compared to 56.9 billion yen (about $360 million) for the same quarter last year — an increase of 150.5 percent.
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