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Nintendo Results Meet Expectations
For its fourth fiscal quarter ending 3/31/2023, Nintendo (7974.T-JP: Tokyo) (NTDOY: OTC) reported revenue was down year-over-year 18% to ¥306,499 million. For the full fiscal year 2023, revenue was down 6% to ¥1,601,677 million. Switch hardware sales for the fiscal 2023 were 18 million versus 23 million in fiscal 2022. Software unit sales were down 9% to 214 million units. For fiscal 2024, Nintendo is forecasting sales to be down 9.5% and net profit do…..
Nintendo Direct Highlights Solid 2023 Lineup
The Nintendo Direct event on February 8 highlighted the upcoming Nintendo Switch products. A major focus was on the upcoming The Legend of Zelda: Tears of the Kingdom which launches May 12, 2023, at $70 for the basic version and $130 for the collector’s edition. Nintendo also did a surprise launch of the long-rumored Metroid Prime Remaster, an update of the 2002 GameCube title. Advance Wars 1+2: Boot Camp is r…..
Nintendo Lowers Switch Forecast Again
For the third fiscal quarter ending 12/31/22, Nintendo announced revenue declined 8% to ¥638,204. Switch unit sales declined 23% in Q3 to 8.2 million. For the full fiscal year ending 3/31/23, Nintendo lowered its forecast for Switch hardware units to 18 million. Software sales for Nintendo were only down 3% in the third quarter. However digital software sales were up 10% and downloads of packaged software was up 28% compared with the previous year quarter. Pokemon Scar…..
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