- Nintendo (OTC:NTDOY) has taken a “victory lap” despite lowering its annual earnings, sales, and profit forecasts
- The company reported a profit of ¥237 billion (US$1.5 billion) for April-December, down 42 per cent from the previous year and Switch console sales fell to 9.54 million units from 13.7 million last year, with the full-year projection now at 11 million units, down from 12.5 million
- Despite these challenges, Nintendo celebrated the enduring success of the Switch, which has sold 150 million units, making it one of the highest-selling video game consoles of all time
- Nintendo stock (OTC:NTDOY) last traded at US$16.44
Nintendo (OTC:NTDOY) has taken a “victory lap” despite lowering its annual earnings, sales, and profit forecasts.
The company reported a profit of ¥237 billion (US$1.5 billion) for April-December (the holiday period), down 42 per cent from the previous year, with nine-month sales dropping 31 per cent to ¥956 billion (US$6 billion). The full-year profit forecast has been adjusted to ¥270 billion (US$1.7 billion), down from ¥300 billion (US$1.9 billion). A lower profit is still a profit.
Sales of the Switch console fell to 9.54 million units from 13.7 million last year, with the full-year projection now at 11 million units, down from 12.5 million. Game software sales also declined, but titles like “Super Mario Party Jamboree” and the “The Legend of Zelda: Tears of the Kingdom” remained popular.
Despite these challenges, Nintendo celebrated the enduring success of the Switch, which has sold 150 million units, making it one of the highest-selling video game consoles of all time. The number of active Switch players has increased to 129 million worldwide, which is incredible for a piece of technology that is less than a month shy of its eighth birthday.
With headquarters in Kyoto, Japan Nintendo Co., Ltd. is a multinational video game company that develops, publishes and releases video games and video game consoles.
Nintendo stock (OTC:NTDOY) ended the day just 0.3 per cent lower on the OTC Market at US$16.44 and is up 12.99 per cent since this time last year.
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(Top image from Nintendo Power Pad ad via YouTube.)
