Nintendo raised its forecast for annual sales – Kommersant
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Japanese game developer – Nintendo presented reporting for the first ten months of the 2022–2023 financial year, ending December 31, 2023. The company’s revenue during this period increased by 7.7%, to 1.395 trillion yen ($9.4 billion). Net profit grew by 18%, amounting to 408 billion yen ($2.7 billion).
The strong results come as new games from the company’s popular franchises, most notably The Legend of Zelda: Tears of the Kingdom and Super Mario Bros., sold well last year. Wonder. Nintendo also improved forecast for 2022-2023 as a whole: it expects net profit to grow by 1.7%, while previously it expected profit to decline by 3%. Nintendo now also expects revenue growth of 1.8%, after previously forecasting a decline of 1.4%. The company expects that it will sell 15.5 million Switch game consoles and 190 million copies of games for them over the year, up from 15 million and 185 million in earlier forecasts.
Nintendo shares on the Tokyo Stock Exchange fell 0.5% after the publication of the report. However, since the beginning of the year they have grown by 14% – mainly due to the anticipation of the new generation of Switch, which, according to some analysts, may be presented this year. The company has not updated its line of gaming consoles for a long time: the Switch model, which is currently on sale, was released back in 2017.
Read about how the console market in the Russian Federation is growing due to portable devices and nostalgia in the Kommersant article. “Profit Prefixes”.
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