Nintendo net profit falls for 2nd straight yr on weaker Switch sales

Nintendo Co. said Tuesday its net profit for the year ended March fell 9.4 percent from a year earlier to 432.77 billion yen ($3.2 billion), the second straight year of decline, pressured by a fall in its Switch game console sales.Operating profit decreased 14.9 percent to 504.38 billion yen on sales of 1.60 trillion yen, down 5.5 percent.The Japanese gaming giant sold 17.97 million Switch console units last fiscal year, down 22.1 percent from 23.06 million units a year earlier. A production bottleneck due to a chip shortage and weaker-than-expected demand during the year-end shopping seaso…READ FULL ARTICLE