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.