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Max Knoblauch

Nintendo’s Switch 2 is selling at more than twice the pace of the original

Nintendo posted the results of its fiscal first quarter on Friday, and the Switch 2’s initial quarter on sale was a banger.

Nintendo sold more than 5.8 million Switch 2 consoles in the April to June quarter, despite the system launching at the tail end of the period (June 5).

That’s more than double the original Switch’s 2.7 million first-quarter sales, and the console’s success more than doubled Nintendo’s quarterly revenue to about $3.8 billion. The better-than-expected revenue figure fueled Nintendo shares, and its US ADRs are up about 2% in premarket trading.

Switch 2 game sales reached 8.67 million units, compared to 24.4 million units for original Switch games. Because of the new console’s backward compatibility, Nintendo says “the people purchasing Nintendo Switch software include not only owners of Nintendo Switch, but also people who have bought Nintendo Switch 2.”

Nintendo said it still expects to sell 15 million Switch 2s and 45 million games in the fiscal year ending in March.

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eBay stock slumps on gloomy Q4 outlook despite solid Q3 earnings

Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

EBay Falls After Giving Weak Profit Outlook for Holiday Period

eBay Bloomberg 10/30

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

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