Why Nintendo Co. Ltd. Fell 14.4% Today

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What: Shares of Nintendo (NASDAQOTH: NTDOY) fell as much as 14.4% on Wednesday following the release of disappointing first-quarter resultsreminded investorsPokemon Go megahit is unlikely to do much good for Nintendo's financial results.

So what: Nintendo's first-quarter sales came in at $588 million, a 31% year-over-year drop in the underlying Yen reports. The year-ago period's earnings of $0.65 per share plunged to a net loss of $1.93 per share.

Sales of Wii U systems fell 53% year over year, while software sales for the flagship platform increased by 3%.

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