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Nintendo Shares Dive As Company Plays Down Pokemon Go's Earnings Impact

By Ron Burgundy,
July 25, 2016 in Tech News

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Ron Burgundy

Posted July 25, 2016

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Posted July 25, 2016

By Junko Fujita TOKYO (Reuters) - Shares in Nintendo Co tumbled as much as 18 percent on Monday after the company said Pokemon GO would have a limited impact on its earnings - their biggest setback so far after a huge run-up on the smash-hit game. The Kyoto-based gaming company, which is due to report first-quarter results this week, surprised markets with a statement on Friday that income garnered through its 32 percent stake in affiliate Pokemon Company, which owns the licensing rights, would be limited and that it did not plan to revise its earnings outlook for now. "The market has overreacted to the Nintendo statement," said David Gibson, a senior analyst at Macquarie Securities Group, noting the game in Japan had broken records with 10 million downloads in one day.