Nintendo Jumps as Investors Anticipate Next-Gen Console Reveal

(Bloomberg) — Nintendo Co. jumped after investors bet poor quarterly earnings would spur the company to focus on its next-generation console.

Shares of Nintendo rose as much as 5% on Wednesday, the biggest intraday rise in a month, after the company reported its fifth straight quarter of profit declines. The Kyoto-based company also cut its full-year profit and sales forecasts, noting that its Switch console is in its eighth year on the market.