Big Red’s seeing black
The casual observer might assume that Nintendo’s having a good run of things lately, what with its wildly popular Switch having recently released and whatnot. A dive into the company’s financials proves this assumption to be spot-on. Nintendo’s having the exact kind of year you’d expect for a company that’s in the midst of a successful console launch.
Nintendo has just released its consolidated financial report to investors for the quarter that ended on June 30. There are some interesting tidbits to glean, but the most impressive is the first thing on the sheet. Revenue is up more than 148 percent over the same quarter last year, as Nintendo pulled in almost $1.38 billion over the past three months. (I’ve taken the liberty of converting all currency from Japanese yen to US dollar.)
Realistically, these are the improvements we’d expect from a major console launch, especially with regard to the previous year comparison. All platform-holders thrive when their new product hits market, and they’re all relatively stagnant the year before at the end of their previous product’s life cycle. But, in the case of Nintendo, this equates to an operating profit of nearly $145 million for the quarter. That seems sure to please investors.
The report also contains some specifics about hardware and software that are worth pointing out. Most notable is that the Switch is at 4.7 million global lifetime sales. Of those 4.7 million, 1.97 million were this past quarter which means that the Switch sold 2.73 million in March. On the handheld side, the 3DS broke 67 million lifetime sales.
As far as software goes, Switch games have sold a cumulative 13.6 million units. Some ones worth noting are: The Legend of Zelda: Breath of the Wild at 3.92 million units, Mario Kart 8 Deluxe at 3.54 million units, and Arms at 1.18 million units.
Looking forward, Nintendo points out that it still has big things planned for this year — chiefly, the releases of the New 2DS XL, Super Mario Odyssey, Pokemon Ultra Sun and Moon, and the SNES Classic. Nintendo isn’t taking its foot off the gas pedal this year and that’s more than likely going to make future balance sheets look even better.
Consolidated Financial Highlights [Nintendo]