Nintendo raises its financial forecast after the Switch hits 132 million lifetime sales
The Nintendo Switch has sold 132.46 million units over its lifetime, and rising sales in the most recent quarter have prompted Nintendo to raise its financial guidance for the current fiscal year.
As noted in the company’s financial report for the six months ended September 30, 2023, Switch hardware sales increased 2.4 percent year-over-year to 6.84 million units in the second quarter – with the Switch OLED model at 4.69 The majority of this accounted for millions of units sold. Software sales also rose by 1.8 percent to 97.08 million units in the same period.
These factors helped Nintendo achieve consolidated net sales of 796.2 billion yen ($5.2 billion) over the past six months, up 21.2 percent year-on-year. The Japanese company also reported profit of 271.3 billion yen ($1.8 billion), up 17.7 percent from a year earlier.
Looking at these results, Nintendo noted that “every title released this fiscal year sold well.” The Legend of Zelda: Tears of the Kingdom has now sold 19.5 million copies since its release in May Pikmin 4 has sold 2.61 million copies since July.
The release of The Super Mario Bros. Movie in April also had a positive impact on sales of Mario-related titles Mario Kart 8 Deluxe With 3.22 million units sold, the company exceeds 57 million lifetime sales.
In the company’s digital business, sales of downloadable software as well as sales related to additional content and Nintendo Switch Online also rose 15.8 percent to 217.5 billion yen.
Nintendo’s mobile and IP-related business reported revenue of 55 billion yen, up 133.3 percent year-on-year. The company attributed this increase to “revenue generation related to the Super Mario Bros. film.”
Regarding the continued appeal of the Nintendo Switch as it nears the end of its lifecycle, Nintendo said it still dreams of putting a system (or even several) in every home around the world.
Looking forward, Nintendo has revised upward its financial guidance for the year ending March 31, 2024, in response to sales trends over the past six months and a reassessment of assumed exchange rates. As a result, the company now expects to achieve net sales of 1.58 trillion yen (previously 1.45 trillion yen) and profits of 420 billion yen (previously 340 billion yen) by the end of the current fiscal year.
