Nintendo's (OTC: NTDOY) stock price dipped 3% on Feb. 8 after the Japanese gaming giant posted its latest earnings report. In the first nine months of fiscal 2023 (which ended on Dec. 31), its net sales declined 2% year over year, its operating profit fell 13%, and its net profit dropped 6%.

For the full year, Nintendo expects its net sales to decline 6%, its operating profit to drop 19%, and for its net profit to slide nearly 23%. All three estimates were slightly reduced from its previous forecast last November.

That guidance cut, which it blamed on softer Switch sales and currency headwinds, was disappointing because many investors had expected Nintendo to raise its guidance after Pokémon Scarlet and Pokémon Violet made history as its two fastest-selling games ever last November. So is it time to give up on Nintendo, or will its prospects brighten by the end of 2023?

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Source Fool.com