business

8/1/25

Nintendo’s Switch 2 is selling at more than twice the pace of the original

Nintendo posted the results of its fiscal first quarter on Friday, and the Switch 2’s initial quarter on sale was a banger.

Nintendo sold more than 5.8 million Switch 2 consoles in the April to June quarter, despite the system launching at the tail end of the period (June 5).

That’s more than double the original Switch’s 2.7 million first-quarter sales, and the console’s success more than doubled Nintendo’s quarterly revenue to about $3.8 billion. The better-than-expected revenue figure fueled Nintendo shares, and its US ADRs are up about 2% in premarket trading.

Switch 2 game sales reached 8.67 million units, compared to 24.4 million units for original Switch games. Because of the new console’s backward compatibility, Nintendo says “the people purchasing Nintendo Switch software include not only owners of Nintendo Switch, but also people who have bought Nintendo Switch 2.”

Nintendo said it still expects to sell 15 million Switch 2s and 45 million games in the fiscal year ending in March.

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Bank branches are still closing at breakneck speed in the US

Institutions such as Chase and Wells Fargo closed 76 locations in just six weeks over the summer, per the OCC.

Indianapolis - March 2016: Chase Bank III

business

19h

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

19h

Boeing on Tuesday announced that it delivered 57 commercial jets in August, its best total for the month in seven years. That brings its year-to-date delivery total to 385 planes, eclipsing its full-year 2024 figure by about 11%.

The August figure marked Boeing’s second-highest delivery total of 2025 and represented a 43% jump from the same month last year. Through August, Boeing has boosted its deliveries by 50% from last year.

The plane maker is still trailing its European rival Airbus, which delivered 61 planes in August and 434 year to date.

Tariffs finally crept into retail's latest earnings results. Who were the winners and losers?

The long-awaited levies took a toll on nearly every retailer, but execution separated who could steer through the costs.

illustration of money and spending

Claire Yubin Oh

Healthcare is expected to remain the engine of America’s job market through 2034

Not everyone is as sure as the BLS about the industry’s prospects.

First aid

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