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Nintendo has been drumming up interest in its older line of Switch consoles with key games themed around characters such as Super Mario and Zelda.
Charly Triballeau | AFP | Getty Images
Nintendo The company’s revenue and profits fell sharply in the first quarter due to declining sales of its aging Switch console.
Here’s how Nintendo’s results for the first fiscal quarter ended June 30 compare with LSEG’s estimates:
- income: 246.6 billion yen ($1.65 billion), compared with expectations of 289.61 billion yen.
- net income: 80.9 billion yen, expected 70.73 billion yen.
Net sales fell 46.5% year-on-year, and net profit fell 55.3% year-on-year.
Sales of Nintendo’s flagship Switch console were 2.1 million units, down 46% year-on-year.
Investors are watching for news on a successor to Nintendo’s aging but highly successful Nintendo Switch gaming console. Previously stated The next-generation device is due to be released this fiscal year, which ends in March 2025.
Nintendo also previously said it expected sales of existing Switch console models to reach 13.5 million units during the period.
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