Nintendo Sees $6.2 Billion in Profits as It Prepares for a Slower Year

Nintendo has unveiled its latest financial results, revealing a successful year driven by the popularity of The Legend of Zelda: Tears of the Kingdom, Super Mario Bros Wonder, and The Super Mario Bros Movie. For the fiscal year ending March 31, 2024, the company reported a 4.4% increase in net sales to ¥1.7 trillion ($11 billion) and a 7.8% rise in gross profit to ¥954.3 billion ($6.2 billion), despite declines in hardware and software sales. However, Nintendo forecasts a challenging year ahead, predicting a 20% drop in net sales for the fiscal year ending March 31, 2025. In a recent social media post, Nintendo president Shuntaro Furukawa announced that the successor to the Switch will be revealed within the current fiscal year. Key financial highlights for the year ending March 31, 2024, include net sales of ¥1.7 trillion ($11 billion), operating profit of ¥528.9 billion ($3.4 billion), ordinary profit of ¥680.5 billion ($4.4 billion), and gross profit of ¥954.3 billion ($6.2 billion). For the year ending March 31, 2025, Nintendo forecasts net sales of ¥1.35 trillion ($8.7 billion), operating profit of ¥400 billion ($2.6 billion), and ordinary profit of ¥420 billion ($2.7 billion). Switch sales decreased by 12.6% year-over-year, with 15.7 million units shipped, while nearly 200 million Switch games were sold during the fiscal year. Digital revenues saw a 9.4% increase to ¥44.3 billion ($286.6 million), driven by growth in download game sales, add-ons, and Nintendo Switch Online revenue. The company reported 123 million annual playing users on the Switch, up from 116 million last year. Mobile and IP-related revenues experienced significant growth, rising 81.6% to ¥92.7 billion ($599.7 million), largely due to the success of The Super Mario Bros Movie. Top-selling games included The Legend of Zelda: Tears of the Kingdom, Super Mario Bros Wonder, and Mario Kart 8 DX, which sold 20.61 million, 13.44 million, and 8.18 million units, respectively.