My Goodness, Nintendo’s Profits Increased Over 400 Per Cent

Image: Nintendo
Image: Nintendo

During the three month period from April to June 2020, Nintendo’s operating profits increased by 427.7 per cent.

In its latest financial earnings statement, Nintendo revealed its year-on-year sales increased by 108.1 per cent, while the company’s net profit is up 541.3 per cent. Nintendo’s year-on-year consolidated net sales were up 108.1 per cent. 

Screenshot: Nintendo

Out of that, dedicated video game platform sales, which includes hardware, software and accessories, are up 113.2 per cent, while the smart device consolidated sales increased 32.7 per cent year-on-year, while Nintendo’s card-playing sales dropped -37.2 per cent.

Screenshot: Nintendo

Hardware sales spiked 166.6 per cent, hitting 5.68 million units compared to 2.13 million units at the same time last year. Software sales were up 123 per cent, reaching 50.43 million units compared to 22.62 million units at the same time last year. Digital sales were up 229.9 per cent and accounted for 55.6 per cent of sales on Nintendo hardware.

According to Nintendo, that Animal Crossing: New Horizons topped the list of its strongest selling games, moving 10.63 million units during the April through June 2020 period. The game now has life-to-date sales of 22.40 million copies.

Screenshot: Nintendo

“In addition, sales of titles from other software publishers continued to grow steadily, bringing the total number of million-seller titles during this period to nine, including titles from other software publishers,” said Nintendo in an official statement. “Covid-19 created some difficulties in procuring the parts required for manufacturing Nintendo Switch consoles, but the overall production situation has almost recovered.”

Nintendo isn’t making any changes to its consolidated financial forecast; however, it did mention that covid-19 could impact business.

“Regarding the impact of covid-19 on our earnings forecasts, production and sales volumes may decrease for a certain period of time, but we anticipate that production and sales will be able to meet the demand for the full year and that we will be able to release software titles now in development as planned,” stated Nintendo. “That being said, there are many elements of uncertainty, so if there is a need to revise our earnings forecasts at a later date, we will promptly disclose those revisions.”

Nintendo added that it is working to “keep the [Switch] platform active with new titles and by reinforcing sales of popular titles that have already been released.” The company also stated it will focus on its mobile business and aim to keep more players enjoying its previously released smart device games. 

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