Why Nintendo Stock Is Surging Today

Japanese video game giant (OTC: NTDOY) impressed investors on Tuesday with its results for the first half of the year. Revenue more than doubled year over year to 1.1 trillion yen, which converts to about US $7.2 billion. Operating profit rose 19.5% to 145.1 billion yen, while net profit jumped 83% to 198.9 billion yen. Nintendo stock was up about 4.4% at 11:25 a.m. ET Tuesday, according to data provided by S&P Global Market Intelligence.

Image source: Getty Images.

Nintendo launched the Switch 2 game console, the successor to the highly successful Switch, in June. The Switch 2 launch, coupled with a higher unit price compared to the Switch, pushed up Nintendo's overall revenue.

Source Fool.com