Nintendo Third Quarter Profits Double

The company reported an October to December profit of 64.7 billion yen ($569 million), up from 29.1 billion yen profit in the same period of 2015. However, despite the exponential growth in Q3, the company revealed net sales of 174 billion yen ($1.5 billion) for a total of 311 billion yen ($2.8 billion) for the nine months ended Dec. 31, 2016, which is down 26.9 percent year-over-year.

Additionally, Nintendo’s bottom line was aided by a relatively weak yen, which lifts oversea revenue, according to

AP

.

Furthermore, the company attributes the success of the mobile game “Pokémon Go” to bigger Pokémon game sales for the Nintendo 3DS. Nintendo also made a big push into mobile with “Super Mario Run” for iPhone, which launched late last year and generated a huge buzz.

The Pokémon Company, a joint venture between Nintendo, Game Freak and Creatures, is the world’s No. 29 largest

License Global's

annual Top 150 Licensors report

.

Additionally, the gaming company’s third quarter and nine-month results come as it prepares to launch its handheld-console hybrid, the Nintendo Switch, this March.