My Goodness, Nintendo's Profits Increased Over 400 Percent

Illustration for article titled My Goodness, Nintendos Profits Increased Over 400 Percent
Image: Nintendo

During the three month period from April to June 2020, Nintendo’s operating profits increased by 427.7 percent.

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In its latest financial earnings statement, Nintendo revealed its year-on-year sales increased by 108.1 percent, while the company’s net profit is up 541.3 percent.

Illustration for article titled My Goodness, Nintendos Profits Increased Over 400 Percent
Screenshot: Nintendo
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Out of that, dedicated video game platform sales, which includes hardware, software and accessories, are up 113.2 percent, while the smart device consolidated sales increased 32.7 percent year-on-year. Meanwhile Nintendo’s card-playing sales dropped -37.2 percent.

Illustration for article titled My Goodness, Nintendos Profits Increased Over 400 Percent
Screenshot: Nintendo

Hardware sales spiked 166.6 percent, hitting 5.68 million units compared to 2.13 million units at the same time last year. Software sales were up 123 percent, reaching 50.43 million units compared to 22.62 million units at the same time last year. Digital sales were up 229.9 percent and accounted for 55.6 percent of sales on Nintendo hardware.

According to Nintendo, that Animal Crossing: New Horizons topped the list of its strongest selling games, moving 10.63 million units during the April through June 2020 period. The game now has life-to-date sales of 22.40 million copies.

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Illustration for article titled My Goodness, Nintendos Profits Increased Over 400 Percent
Screenshot: Nintendo

“In addition, sales of titles from other software publishers continued to grow steadily, bringing the total number of million-seller titles during this period to nine, including titles from other software publishers,” said Nintendo in an official statement. “Covid-19 created some difficulties in procuring the parts required for manufacturing Nintendo Switch consoles, but the overall production situation has almost recovered.”

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Nintendo isn’t making any changes to its consolidated financial forecast; however, it did mention that covid-19 could impact business.

“Regarding the impact of covid-19 on our earnings forecasts, production and sales volumes may decrease for a certain period of time, but we anticipate that production and sales will be able to meet the demand for the full year and that we will be able to release software titles now in development as planned,” stated Nintendo. “That being said, there are many elements of uncertainty, so if there is a need to revise our earnings forecasts at a later date, we will promptly disclose those revisions.”

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Nintendo added that it is working to “keep the [Switch] platform active with new titles and by reinforcing sales of popular titles that have already been released.” The company also stated it will focus on its mobile business and aim to keep more players enjoying its previously released smart device games.

Originally from Texas, Ashcraft has called Osaka home since 2001. He has authored six books, including most recently, The Japanese Sake Bible.

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DISCUSSION

codyficker
CodyKerr77

What a lot of people aren’t talking about right now is that Animal Crossing is apparently the fastest selling exclusive game of any platform ever now. No other first party game has ever sold so much of a game in one quarter.