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.”

Tesla is facing a crucial verdict in a personal injury trial over a fatal Autopilot crash in 2019, the first time Elon Musk’s automaker has been in front of a jury on such a matter in federal court.

Attorneys for the plaintiffs on Thursday asked the jury to award damages of around $345 million. That includes $109 million in compensatory damages and $236 million in punitive damages. The trial in the Southern District of Florida started on July 14.

The suit centers around who shoulders the blame for a deadly crash that occurred in 2019 in Key Largo, Florida. A Tesla owner named George McGee was driving his Model S electric sedan while using the company’s Enhanced Autopilot, a partially automated driving system.

While driving, McGee dropped his mobile phone that he was using and scrambled to pick it up. He said during the trial that he believed Enhanced Autopilot would brake if an obstacle was in the way. He accelerated through an intersection at just over 60 miles per hour, hitting a nearby empty parked car and its owners, who were standing on the other side of their vehicle.

Naibel Benavides, who was 22, died on the scene from injuries sustained in the crash. Her body was discovered about 75 feet away from the point of impact. Her boyfriend, Dillon Angulo, survived but suffered multiple broken bones, a traumatic brain injury and psychological effects.

The plaintiffs have included Benavides’ surviving family members, and Angulo, who testified in the trial. Angulo is seeking compensation for his medical expenses and pain and suffering, while Benavides’ estate is suing for wrongful death, pain and suffering, and other punitive damages.

Lawyers representing the plaintiffs argued that Tesla’s partially automated driving systems, marketed as Autopilot at the time, had dangerous defects, which should have been known and fixed by the company, and that use of Autopilot should have been limited to roads where it could perform safely.

They also argued that Musk and Tesla made false statements to customers, shareholders and the public, overstating the safety benefits and capabilities of Autopilot, which encouraged drivers to overly rely on it.

In opening arguments and throughout the trial, the plaintiffs’ attorneys and expert witnesses cited a litany of Musk’s past promises about Autopilot and Tesla’s autonomous vehicle technology. The lawyers said

Tesla attorneys countered in court that the company had communicated directly with customers about how to use Autopilot and other features, and that McGee’s driving was to blame for the collision. They said in closing arguments that Tesla works to develop technology to save drivers’ lives, and that a ruling against the EV maker would send the wrong message.

The Benavides family had previously sued McGee and settled with him. McGee was charged in October 2019 with careless driving and didn’t contest the charges.

While Tesla has typically been able to settle cases or move Autopilot-related suits into arbitration and out of the public eye, Judge Beth Bloom in the Miami court wrote, in an order in early July, that the case could move ahead to trial.

“A reasonable jury could find that Tesla acted in reckless disregard of human life for the sake of developing their product and maximizing profit,” she wrote in that order.

For closing arguments on Thursday, the Benavides family and Angulo were in the courtroom. They looked away from screens anytime a video or picture of the scene of the crash was displayed.

— NBC News’ Maria Piñero reported from Miami.

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Apple’s AI strategy and investment was on the mind of analysts on an earnings call after the company reported third-quarter earnings that showed overall revenue grew by 10% year over year.

While Apple was never going to announce major acquisitions or initiatives on an earnings call, CEO Tim Cook’s remarks on Thursday confirm that the company is going to invest more heavily in the technology.

Cook said Apple is going to “significantly” grow the company’s investments in AI. He added that Apple was always looking to buy companies of any size that could help it develop its AI offerings.

“We’re very open to M&A that accelerates our roadmap,” Cook said. “We are are not stuck on a certain size company, although the ones that we have acquired thus far this year are small in nature.”

Cook said that Apple had acquired “around” seven companies so far this year, although not all of them were focused on AI. While Cook has said in the past that Apple is always evaluating potential acquisitions of all sizes, its largest purchase of all time was Beats Electronics in 2014 for $3 billion.

He made the remarks Thursday as Apple has faced growing pressure from Wall Street to catch up to its Silicon Valley peers, all of whom have dedicated tens of billions of dollars toward the infrastructure necessary to power AI.

Apple has never been the biggest spender on capital expenditures among big tech companies. It only reported $3.46 billion in capital expenditures in the June quarter, up from $2.15 billion in the year ago period. Its expenses this past quarter are the highest they have been since the quarter ending December 2022. If Apple spent as much as it did this quarter for a full year, that would be about $14 billion annually.

That hardly compares to Google projecting $85 billion in capital expenditures for its fiscal 2025 last week, Meta’s estimate of as much as $72 billion in annual capital expenditure spending, and Microsoft’s $30 billion capital expenditures guide for the current quarter.

Cook also downplayed any potential that AI-powered devices that haven’t been invented yet might threaten Apple’s iPhone franchise. Apple’s former design guru Jony Ive teamed up with OpenAI in a $6.5 billion May deal, although they have yet to reveal what their product is, does or will cost.

“It’s difficult to see a world where iPhone’s not living in it,” Cook said, “That doesn’t mean that we are not thinking about other things as well, but I think that that the devices are likely to be complementary devices, not substitution.”

Cook also made it clear to investors and analysts on the call that Apple does have an AI strategy that it’s executing on.

“Our focus, from an AI point of view, is on putting AI features across the platform that are deeply personal, private and seamlessly integrated,” Cook said.

When asked if he thought that if large language models — the core AI technology made by companies such as Anthropic and OpenAI — might be commoditized, Cook declined to answer and said he was keeping some parts of the company’s strategy secret for now.

“The way that we look at AI is that it’s one of the most profound technologies of our lifetime” Cook said. “It will affect all devices in a significant way.”

WATCH: Apple CEO Tim Cook: Incurred $800 million in tariff-related costs in June quarter