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Nintendo Co. Switch 2 game consoles at a Bic Camera Inc. electronics store in Tokyo, Japan, on Thursday, June 5, 2025. Nintendo Co. fans from Tokyo to Manhattan stood in line for hours to be among the first to get a Switch 2, fueling one of the biggest global gadget debuts since the iPhone launches of yesteryear.

Kiyoshi Ota | Bloomberg | Getty Images

Nintendo more than doubled revenue in its fiscal first quarter, as the company logged bumper sales of its Switch 2 console in the first month of release.

Sales of Nintendo’s Switch 2 now total 5.82 million units, the company said in an update on its investor relations website Friday.

Here’s how Nintendo did in the quarter ending on June 30 versus LSEG estimates:

  • Revenue: 572.3 billion Japanese yen ($3.8 billion), up 132% year-over-year and above the 474.84 billion yen expected.
  • Operating profit: 56.9 billion yen, versus 53.46 billion yen expected.

Sales from Nintendo’s dedicated video game platform business grew 142.5% year-on-year to 555.5 billion yen, driven primarily by a higher price point for the Switch 2, compared with that of its predecessor, according to the company.

Sales within Nintendo’s intellectual property-related business — which includes movies and entertainment based on the company’s original games — meanwhile declined 4.4% due to a decrease in revenue from “The Super Mario Bros. Movie.”

Despite the bumper quarterly performance, Nintendo maintained its revenue and operating profit guidance for the fiscal year ending March 2026 unchanged at 1.9 trillion yen and 320 billion yen, respectively.

Nintendo shares have rallied roughly 40% so far this year on the back of excitement about the tech giant’s new Switch 2 hybrid console.

The device, which launched on June 5, sold more than 3.5 million units in its first four days and Nintendo expects it will hit 15 million unit sales in the current fiscal year.

Nintendo on Friday kept its annual sales forecast for the Switch 2 unchanged at 15 million units. Analysts, however, say this target is conservative, and that the company will likely exceed that number.

One factor that could dent Nintendo’s financial prospects is an expected hit from U.S. tariffs. However, analysts at Morningstar believe Nintendo will weather the storm by increasing its overall gaming audience.”

“Although Nintendo’s profitability is expected to decline in the short term due to higher tariff rates, the company will recoup the losses in the long term by selling more games to a larger user base,” said Kazunori Ito, director of equity research at Morningstar.

For its part, Nintendo said Friday that, “While there have been changes in the market environment since we announced our initial forecast for the fiscal year, such as the U.S. tariff measures, at this time there is no significant impact on our earnings forecast for this fiscal year.”

Nintendo's big bet on the Switch 2

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Meta used National PTA to promote child safety efforts, report finds

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Meta used National PTA to promote child safety efforts, report finds

Meta CEO Mark Zuckerberg tries on Orion AR glasses at the Meta Connect annual event at the company’s headquarters in Menlo Park, California, on Sept. 25, 2024.

Manuel Orbegozo | Reuters

Since losing her 15-year-old son Riley to suicide following a sextortion scheme through Meta’s Messenger app, Mary Rodee has worked with advocacy groups to push for stronger protections for children online. 

“I hold them solely responsible,” Rodee said about Meta in an interview with CNBC. “They have a responsibility for the safety of their users.”

Rodee is among a number of parents who are increasingly critical of organizations that are supposed to help children stay safe but accept money from Meta and other social media companies. Among these groups is the National Parent Teacher Association. 

The National PTA is a nonprofit with more than 20,000 chapters and nearly 4 million members across the country that works with schools and families to advocate for children. The group’s website says its members “share a commitment to improving the education, health and safety of all children.”

A report published Tuesday by tech watchdog organization Tech Transparency Project alleges the group’s relationship with Meta “gives a sheen of expert approval” to the social media company’s “efforts to keep young users engaged on its platforms.” The report claims that Meta’s tactics are used to counter concerns that services like Instagram can be harmful to teens in an attempt to shape the public narrative. 

As Meta has come under growing pressure over its impact on kids and their well-being, the company has responded with a range of tactics to influence the public debate,” TTP wrote.

Meta has sponsored the National PTA for years, while the education advocacy group has promoted the company’s child safety initiatives without always noting its financial ties, TTP found.

The National PTA and Meta, the parent company of Facebook and Instagram, have worked together since at least 2010. Meta’s presence is listed in the group’s events and social media posts.

“It’s unforgivable,” said Rodee of Canton, New York. “I just can’t get over these groups that convince themselves that there’s not blood on their hands, that this money is clean.”

Both Meta and the National PTA declined to share how much the social media company has contributed to the group.

“We’re proud to partner with expert organizations to educate parents about our safety tools and protections for teens, as many other tech companies do,” a Meta spokesperson told CNBC in a statement.

In a statement to CNBC, the National PTA said that it doesn’t endorse any social media platform and it accepts sponsorship from Meta to have a “seat at the table” and to be a “strong, clear voice for parents and children.”

“Our collaboration with Meta provides an opportunity to help inform families about safety on its apps and the available tools (e.g., parental controls, age-gated features) and resources (e.g., parent’s guides, online safety centers),” the National PTA said in its statement.

Mary Rodee lost her 15-year-old son Riley to suicide following a sextortion scheme through Meta’s Messenger app.

Mary Rodee

Meta worked with the National PTA in 2017 to help roll out Messenger Kids, a chat app for children under 13 that the company said was developed in consultation with parent and safety groups, TTP wrote in its report. Facebook became a founding sponsor of the PTA Connected initiative the following year in 2018, the National PTA said in its statement to CNBC.

The National PTA can often be seen supporting Meta products on its Instagram account. For example, a post shared in June shows a group of PTA members at a digital safety workshop in front of a poster with Meta and the National PTA’s logo.

Riley, Rodee’s son, was a victim of sextortion on Meta’s platforms. Sextortion is the act of threatening to expose sexually compromising information unless certain demands are met. He was blackmailed by a person posing as a teenage girl on Facebook Messenger, Rodee said.

The fake account demanded Riley pay $3,500. He then took his own life, Rodee said. Sextortion schemes like this are on the rise across social media. The U.S. Department of Homeland Security received more than 3,000 sextortion tips in 2022, according to the Justice Department.

The Federal Trade Commission accused Meta in 2023 of misleading parents about their ability to control who their children communicate with on the Messenger Kids app. Meta has denied wrongdoing and is challenging both the FTC’s proposed restrictions and the constitutionality of the agency’s process.

A federal master complaint filed in March 2024 in California by school districts and local governments as part of a multi-district lawsuit against major social media companies alleges that platforms like Instagram and Facebook were intentionally designed to be addictive to young users. The complaint names the National PTA as one of the organizations Meta uses to reach children in schools.

“While Instagram may try to characterize this work as helpful to addressing youth mental health problems, they were more candid in other documents about using this as a strategy to get more teen users,” the filing states. “The goal of the parents plan was to get ‘parents to think, my kids are on social media, and my FAVORITE app for them to be on is Instagram, bar none.'”

In September 2024, Meta announced Instagram Teen Accounts, which gives users between 13 and 17 certain safeguards on the app. The release announcing the accounts included a quote from National PTA President Yvonne Johnson, without disclosing that Meta was a national sponsor of the organization.

“Given that parents today are grappling with the benefits and challenges of the internet and digital media for their teens, our association applauds Meta for launching Instagram Teen Accounts,” Johnson said in the release.

Instagram’s Teen Accounts feature has received mixed responses when it comes to how effectively it protects kids. Some users still saw inappropriate content on Instagram, according to a report from ParentsTogether.

“This strategy of telling parents that these products are safer than they really are puts kids in danger,” said Shelby Knox, online safety campaign director at ParentsTogether.

The Meta spokesperson said that Teen Accounts give protections to limit who can contact teens on Instagram.

Other parent groups like Smartphone Free Childhood U.S. and Parents for Safe Online Spaces have reached out to the National PTA to voice their concern of accepting money from social media companies that they say are dangerous to their children.

The National PTA’s other sponsors also include Google, YouTube, TikTok and Discord.

In 2024, TikTok gave the National PTA more than $300,000 for programs about teens and social media, even as the platform itself faced mounting criticism over its impact on teens.

The PTA is just one example of Meta’s strategy, according to the TTP report. Meta also created Trust, Transparency & Control Labs, also known as TTC Labs, in 2017. The organization works to collaborate on safety efforts.

While TTC Labs is clearly labeled as a Meta creation, TTC has produced reports on Instagram Teen Accounts and Horizon Worlds. Meta has cited these reports as evidence of its commitment to child safety.

Meta and other social media platforms have been blamed for causing harm to children. 

A bipartisan group of 42 attorneys general sued Meta in 2023, alleging features on Facebook and Instagram are addictive and are aimed at kids and teens.

In July, Meta said it eliminated 600,000 profiles linked to predatory behavior and enhanced direct messaging protections on Instagram.

“PTAs in schools are trusted organizations, so their support of companies that are using people and children for profit is just unforgivable,” Rodee said.

If you are having suicidal thoughts or are in distress, contact the Suicide & Crisis Lifeline at 988 for support and assistance from a trained counselor.

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EchoStar stock skyrockets 75% on AT&T deal to buy wireless spectrum for $23 billion

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EchoStar stock skyrockets 75% on AT&T deal to buy wireless spectrum for  billion

AT&T CEO John Stankey: EchoStar spectrum deal will accelerate growth & dramatically improve service

EchoStar stock roared more than 75% higher on Tuesday after AT&T said it agreed to purchase certain wireless spectrum licenses from the telecom company for about $23 billion in an all-cash deal.

The sale will add about 50 megahertz of mid-band and low-band spectrum to AT&T’s network, with the licenses covering more than 400 markets across the U.S., AT&T said. The deal is expected to close in mid-2026, pending regulatory approval.

EchoStar said in a regulatory filing that the transaction is part of the company’s “ongoing efforts to resolve the Federal Communications Commission’s inquiries.”

Read more CNBC tech news

FCC Chairman Brendan Carr wrote in a May letter addressed to EchoStar cofounder and Chairman Charlie Ergen that the agency’s staff would investigate the company’s compliance with federal requirements to build a 5G network.

The letter followed complaints from Elon Musk‘s SpaceX that EchoStar had left “valuable mid-band spectrum chronically underused,” and the FCC should take steps to let “new satellite entrants” put it to use.

SpaceX owns Starlink, which provides internet service through a constellation of low Earth orbit satellites.

As part of Tuesday’s announcement, AT&T and EchoStar also agreed to expand their network services agreement, enabling EchoStar to operate as a hybrid mobile network operator providing wireless service under the Boost Mobile brand.

“EchoStar and Boost Mobile have met all of the FCC’s network buildout milestones,” Ergen said in a statement. “However, this spectrum sale to AT&T and hybrid MNO agreement are critical steps toward resolving the FCC’s spectrum utilization concerns.”

AT&T CEO John Stankey told CNBC that the deal is “a win all the way around.”

“It’s a fantastic opportunity to see more services put together the way customers want to buy them together,” Stankey said in an interview on “Squawk Box.” “And as a result of that, I think ultimately regulators are going to look at this and say it’s very, very attractive.”

AT&T shares rose less than 1 percent.

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Google says Fox channels to go dark on YouTube TV if agreement isn’t reached

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Google says Fox channels to go dark on YouTube TV if agreement isn't reached

Nurphoto | Nurphoto | Getty Images

Google-owned YouTube on Monday said it may remove channels including Fox Broadcast Network, Fox News and Fox Sports from its TV streaming platform if it doesn’t reach an agreement with Fox Corporation.

YouTube TV’s renewal date with Fox is coming on Wednesday, and while the two companies have been in ongoing negotiations, they’ve been unable to reach a deal, the YouTube team wrote in a blog post. The company also emailed YouTube TV subscribers about the potential fall out with Fox.

“Fox is asking for payments that are far higher than what partners with comparable content offerings receive,” YouTube wrote in the blog. “Our priority is to reach a deal that reflects the value of their content and is fair for both sides without passing on additional costs to our subscribers.”

If YouTube is unable to reach a new agreement by 5 p.m. Eastern on Wednesday, the Fox channels will become unable on YouTube TV, the Google company said. YouTube pays broadcasters like Fox to carry their channels, and a blackout could have implications on advertisers and millions of viewers who cut their cords to stream Fox’s various channels on YouTube TV.

“While Fox remains committed to reaching a fair agreement with Google’s YouTube TV, we are disappointed that Google continually exploits its outsized influence by proposing terms that are out of step with the marketplace,” the media company said in a statement.

The Fox standoff represents the latest contract dispute between content companies and delivery networks as viewers increasingly ditch cable. 

In February, Paramount Global notified YouTube TV subscribers that more than 20 channels including CBS, BET, Comedy Central, MTV and Nickelodeon could go dark on the service if the two didn’t reach a deal. Shortly after, YouTube TV and Paramount announced a multi-year distribution deal.

YouTube TV’s base plan costs $82.99 per month and includes over 100 live channels and unlimited cloud DVR. YouTube said a key part of its commitment to users is its partnership with content providers like Fox, “which allows us to carry a wide variety of channels.”

If Fox does go offline for an extended period of time, YouTube will give its members a $10 credit, the Google company wrote. Users will also be able to watch Fox content by signing up for Fox One, Fox’s streaming service, the blog said.

YouTube recently overtook Netflix, which has a market cap of $515 billion, as the top streaming platform in terms of audience engagement. Google does not provide official subscriber numbers for YouTube TV, but in its February 2024 letter, YouTube CEO Neal Mohan announced that the service had more than 8 million subscribers. MoffettNathanson principal analyst Michael Nathanson has estimated that YouTube TV has approximately 9.4 million paying subscribers.

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