- In Q1, Nintendo’s operating profit decreased by 70.6% year-on-year to ¥54.5 billion
- New releases did not measure up to hits like The Super Mario Bros. Movie and The Legend of Zelda: Tears of the Kingdom from the previous year
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During Q1, Nintendo’s operating profit plummeted by 70.6% year-on-year, reaching ¥54.5 billion ($376.3 million) at the start of the fiscal year.
Sales also saw a significant decline, dropping by 46.5% year-on-year to ¥246.6 billion ($1.7 billion), with ¥229 billion ($1.6 billion) from the video games business, a decrease of 46.4%
The decline can be attributed to decreased Switch hardware and software sales, as the company gears up for its next console release
In Q1, Nintendo introduced only a few first-party Switch titles, including remasters like Paper Mario: The Thousand-Year Door and Luigi’s Mansion 2 HD
While these titles sold well, they were overshadowed by last year’s hit game The Legend of Zelda: Tears of the Kingdom, which sold 18.5 million units in the same period
With the success of The Super Mario Bros. Movie in 2023, Nintendo’s 2024 lineup appears less eventful
Nintendo’s mobile mystery
Sales from Nintendo’s mobile and IP related business dropped by 53.8% year-on-year to ¥14.7 billion ($101.6 million), mostly due to declining income from The Super Mario Bros. Movie
The exact contribution of mobile revenues to this total remains undisclosed, but Nintendo cited a decline in revenue related to the movie as the reason for the decrease
Bonus numbers
Nintendo’s ordinary profit fell to ¥113.4 billion ($784.4 million) and profit attributable to owners decreased to ¥80.9 billion ($559.6 million), both down by 55.3% year-on-year
74.2% of game sales occurred outside of Japan, generating ¥183.1 billion ($1.3 billion) in total earnings for the quarter
