Bandai Namco Sees 56% Surge in Profits During Q1 of FY25

Bandai Namco has released its financial results for the first quarter, revealing substantial growth in both net sales and profits. For the quarter ending June 30, 2024, the company's net sales increased by 24.8% year-over-year to ¥280 billion ($1.9 billion), while profits jumped by 56.3% to ¥34 billion ($233 million). The digital entertainment segment drove this growth, with sales rising by 55.8% to ¥106 billion ($725 million). A significant contributor to this success was the release of FromSoftware's Elden Ring expansion, Shadow of the Erdtree, which sold five million units within three days of its launch on June 21. The company's amusement segment also saw a 17% increase in sales, reaching ¥33 million ($225,760). Looking forward, while Bandai Namco's full-year forecast remains unchanged from its May 20 announcement, it has revised its projections for the six-month period ending September 30, 2024. Initially, the company forecasted net sales of ¥515 billion ($3.5 billion) and profits of ¥40 billion ($273 million). However, it now expects net sales to reach ¥555 billion ($3.7 billion) and profits to hit ¥60 billion ($410 million).