Nintendo’s quarterly profit up 1.5 times – Kommersant
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The revenue of the Japanese company Nintendo in the first quarter of the financial year 2022/23 ended in June, grew by 50%, to ¥461.3 billion ($3.2 billion). Net income increased by 52% to ¥181 billion ($1.26 billion). These results were significantly better than analysts’ expectations. Nintendo’s strong quarterly results are primarily due to the record box office of Super Mario Bros. Movie and strong sales of the new game from the popular The Legend of Zelda series.
Based on Nintendo’s popular game about the Italian plumber Mario, worldwide box office grossed $1.35 billion at the end of July. The company sold 3.9 million Switch game consoles in the quarter, up 14% from a year earlier. Sales of games for these consoles increased by 26% to 52.2 million. During the first quarter, Nintendo sold 18.5 million copies of the new game The Legend of Zelda: Tears of the Kingdom, released in May. The company said that this is the highest sales in such a short period of time in the history of this series of games.
Nintendo reaffirmed guidance for FY 2022/23 as a whole, with revenue expected to decline by 9% and net income by 21%. In a year, the company hopes to sell 15 million Switch consoles and 180 million games for them.
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