Nintendo Swings to Operating Profit in First Quarter

Japanese consumer electronics company Nintendo posted a sharp uptick in its sales and profit during the first quarter of its fiscal year buoyed by growing demand for its new mobile gaming console ‘Nintendo Switch’.
Net sales rose 148.6% to 154 billion yen ($1.39 billion) in the three months ended June 30 compared to a loss of 62 billion yen in the corresponding quarter of the previous year, the Kyoto-headquartered company said in a filing published on Wednesday. Operating profit was 16.21 billion Yen compared to an operating loss of 5.13 billion Yen in the prior-year period.

Sales of its Nintendo 3DS platform rose to 11 million units from 10.6 million units in the prior year’s period and total units of the Nintendo Switch platform, which launched in March, were 10.3 million. Underpinning demand for the Switch console were new and already released games such as Mario Kart 8 Deluxe (pictured, left), which was released in April, and sold 3.5 million units worldwide, ARMS, released in June, which sold 1.18 million units globally, and The Legend of Zelda: Breath of the Wild, which was released in the previous period, and which sold 1.16 million units during the quarter.

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