Nintendo Surges With A 428% Profit Spike

Nintendo surged as much as 6% on Thursday, reports Business Insider.
The video game company said first-quarter earnings soared 428% while sales more than doubled.
Video game companies have seen a surge in business since the COVID-19 pandemic outbreak.
Consumers are looking to entertain and distract themselves while sheltering in place.
Driving the strength in Nintendo's business included growing demand for its Nintendo Switch.
The popular software hit "Animal Crossing: New Horizon" is a major draw for buyers.