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Nintendo quarterly revenue surges thanks to Switch 2 / Photo: Kazuhiro NOGI - AFP
NYSE - LSE
Nintendo quarterly revenue surges thanks to Switch 2
Nintendo on Friday said quarterly revenue had more than doubled year-on-year thanks to the Switch 2, which became the world's fastest-selling console after its launch in June.
Pent-up demand for the new gadget from the "Super Mario" gamemaker fuelled fan excitement at the release, which saw sold-out pre-orders and midnight store openings.
The Switch 2 smashed industry records by selling 3.5 million units in its first four days, and Nintendo said Friday it had shifted around 5.8 million consoles in its first month.
"Net sales increased significantly in the first quarter, due mainly to the launch of Nintendo Switch 2," the Japanese company said as it reported a 132 percent on-year jump in sales for the April-June quarter to 572 billion yen ($3.8 billion).
Net profit in the quarter was up 19 percent on-year.
"The launch of Switch 2 has surpassed many people's expectations," and it will be hard for another console to match its strong start, gaming industry consultant Serkan Toto told AFP.
"Nintendo should be able to comfortably ride on this momentum through the holidays and into 2026," although a key challenge will be maintaining a consistent supply of popular games, he said.
The company says it expects to sell 15 million Switch 2 units by the end of March 2026, a target it left unchanged on Friday.
Although the Japanese gamemaker is diversifying into hit movies and theme parks, console hardware remains the core of its business.
The Switch 1, a hybrid console that can be used on-the-go or connected to a television, soared in popularity during the pandemic with hit games such as "Animal Crossing".
It has sold 152 million units since its 2017 release, making it the third best-selling console of all time after Sony's PlayStation 2 and the Nintendo DS.
Although the Switch 2 has a bigger screen and more processing power, and new features including controllers that can also be used like a desktop computer mouse, the hybrid concept is the same.
It is also more expensive than its predecessor, at $449.99 in the United States, compared to a launch price of $299.99 for the original Switch.
The postponed launch of the hugely anticipated "Grand Theft Auto VI" by US publisher Rockstar Games from this year to May 2026 will also be a bright point, Toto said.
"If GTA6 launched this year, it would have sucked almost all the oxygen out of the room and made marketing Switch 2 definitely harder for Nintendo," Toto said.
X.Villanueva--HdM
