Nintendo Unveils Third Quarter Financial Results for Fiscal Year 2024-25 – Announcement

Nintendo recently released their financial results for the fourth quarter of 2024, and while the numbers might seem impressive any other time of year, they’re a bit underwhelming considering this was the Switch’s eighth holiday season.

The financials are reported in yen (¥), with US dollar comparisons listed at an exchange rate of ¥155.32 to $1.

Financial Highlights and Performance

• Revenue: ¥423.919 billion (approximately $2.787 billion), a 27.67% decrease compared to last year.
• Operating income: ¥126.084 billion (around $812 million), showing a 31.60% drop.
• Ordinary income: ¥180.017 billion (about $1.159 billion), reflecting a 42.6% increase.
• Digital sales: ¥85.9 billion or roughly $553 million, down by 33.36%, with digital making up 51% of software sales for the fiscal year.
• Mobile and IP revenue: ¥18.5 billion (around $119.1 million), slipping by 8.42%.

Switch Hardware Sales

Nintendo shipped 4.82 million Switch units this quarter: 2.62 million OLED models, 1.52 million standard ones, and 780,000 Lites. The Switch has now surpassed the 150 million mark in units shipped. It’s on track to overtake the DS by 2025, needing just 3.16 million more shipments, and could possibly pass the PlayStation 2 with 9.24 million additional units shipped, based on Sony’s late 2024 updates.

Top-Performing Software

Leading the software sales this quarter is Super Mario Party Jamboree, with 6.17 million units shipped, outpacing the sales of 2018’s Super Mario Party and 2021’s Mario Party Superstars. Additionally, Mario & Luigi: Brothership has sold over 1.84 million copies worldwide. Released on September 26, The Legend of Zelda: Echoes of Wisdom has also made waves, reaching 3.91 million units shipped.

Catalogue Sales and Projections

Mario Kart 8 Deluxe continues to dominate, shipping 3.06 million units this quarter (bundles included) and reaching a total of 67.35 million copies sold. In the Switch software race, it’s clear who’s in the lead. As for Pokémon, it seems inevitable that Scarlet/Violet will soon surpass Sword/Shield in the rankings.

Revised Projections

For the second time this fiscal year, Nintendo has had to lower its forecasts. They now anticipate shipping 11 million systems, down from the original 12.5 million estimate, and 150 million units of software, previously expected to be 160 million. The revenue projections have been reduced by 7%, with operating profit estimates down by 22.2%, ordinary profit by 11.9%, and net profit by 10%.

Navigating a challenging year, Nintendo is looking ahead, balancing impressive sales milestones with the reality of revised forecasts.