Nintendo reported today. It’s one of my largest ‘counter positioned’ investments and makes up 8% of my portfolio. I’m down 15% (excluding dividends) but have no intention to sell.

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Here’s a summary of the latest earnings

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Sales up 21.1%

Net profit up 17.7%

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Sales of the OLED are driving game sales.

The new Zelda game smashed 19.5m units!

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Digital sales continue to increase YoY. A fact the will drive gross margin.

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For once the company revised earnings up! The market typically ignores earnings and instead reacts to Nintendo’s forecast.

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The last year has been stellar for Nintendo (release of Zelda & the Mario Movie). My hope is that the can deliver on a new console and changes the market’s opinion.