July 27, 2017 / 12:37 AM / 2 months ago

Nintendo shares up more than four percent after reporting strong Switch sales

People line up to get their hands on the Nintendo Switch game console at an electronics store in Tokyo, Japan March 3, 2017. REUTERS/Toru Hanai

TOKYO (Reuters) - Japan’s Nintendo Co Ltd (7974.T) shares rose more than four percent in Thursday morning trade after the console maker reported strong first-quarter sales for its new Switch device.

The Kyoto-based company said on Wednesday it had sold 1.97 million Switch consoles in the three months through June, bringing the cumulative total to 4.7 million units. Nintendo has struggled to produce enough units to keep up with demand.

By 0920 (0020 GMT), Nintendo shares were trading 4.6 percent higher at 37,400 yen. Nintendo’s stock price is up more than 60 percent since the Switch went on sale in March.

Reporting by Sam Nussey; Editing by Christopher Cushing

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