Nintendo raises its forecast for Switch 2 game console sales, driving its stock price to its largest increase in nearly seven months.

Nintendo has raised its sales forecast for its star product, the Switch 2 game console. The company's stock price surged 10% in early trading, reaching its largest increase in nearly seven months. The Japanese gaming giant expects to sell 19 million units of this $450 gaming console by March next year, up from the previous forecast of 15 million units. Nintendo also raised its operating profit estimate for the current fiscal year by 16% to 370 billion yen, and increased its dividend payout ratio to 60%.