Nintendo profits have soared over 200% as Switch fever is still going strong
The Switch continues to crush it.
Nintendo revealed another round of top earnings and even increased its original forecast for the Nintendo Switch. It shows that the increase in demand produced by the pandemic will not wear off anytime soon.
For the first half of the fiscal year, Nintendo reported revenue of $7.4 billion. Compared to the same period in 2019, it is a 73.3% jump. As far as net profit, they reported $2.04 billion, an increase of 243%. In the same period in 2019, their net profit was $590 million.
The company sold 12.5 million Switch consoles from April to September, an 81% increase compared to the same period in 2019. In its presentation for its investors, Nintendo stated that strong sell-through momentum continued even after the summer sales season.
Considering all that, Nintendo altered its original projects and now predicts that by the end of the financial year (that ends in March), they expect to sell more than 24 million Nintendo Switch consoles. The original forecast was for 19 million units. At the same time, they said that they expect their profits to increase to up to 50%.
Nintendo will be looking forward to riding its sales momentum during the significant holiday quarter, where they will face fierce competition from the upcoming Xbox Series S, Xbox Series X, and the PlayStation 5.
Alongside console sales, game sales also soared. The company sold more than 26 million copies of Animal Crossing: New Horizons for six months. The game released in March 2020. For comparison, Mario Kart 8 Deluxe is the best selling Switch game ever, of all time. So far, Nintendo has sold approximately 29 million copies. It released on January 13, 2017.
Other titles that did well during this fiscal year include Super Mario 3D All-Stars and Paper Mario: The Origami King. Nintendo released Super Mario 3D All-Stars as part of the celebration of Super Mario’s 35th birthday. So far, Nintendo has sold over 5 million copies. Paper Mario: The Origami King is a role-playing game that was recently launched, and it has racked up over 2.8 million sales so far.
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