January 20, 2019

Nintendo's Earnings Rise on Continued Switch Success

31 October 2018, 02:12 | Megan Pierce

Nintendo Switch Just Outsold Gamecube's Lifetime Sales

The Nintendo Switch Has Upended the Video Game Market

Those strong sales continue and the latest victim is Nintendo's sixth-generation games console, the GameCube. "The holiday season battle begins now".

The Nintendo Switch has surpassed 22 million units in lifetime sales, with Nintendo breaking the news in its latest financial report.

Should Sony cross that 100 million mark, the PS4 will be one of the company's best-selling systems - ahead of the PS3 (80 million consoles sold) and original PlayStation (102 million consoles old). "On the surface, it's hard to say this was a good quarter for Nintendo".

The slowdown is unnerving investors, who had sent Nintendo shares 15 percent lower this month, amid a broader sell-off in tech stocks.

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As for the future, Nintendo still wants to hit a target of 20 million additional Switch's sold for the fiscal year: 13 million more than last year.

In the meantime, Nintendo is holding a Direct later this week to show off new details about the upcoming Super Smash Bros Ultimate.

"In the grand scheme of things, Nintendo 3DS has a prominent position as the product that can be served as the first contact between Nintendo and many of its consumers, and for this reason we will keep the business going". We are also seeing an increase in Joy-Con sell-through with the release of this title. The outcome fell short of analysts' estimates but qualified as the company's best quarterly result in eight years. Total revenue was 2.2 trillion yen.

The Kyoto-based game giant reported net profit for the 6 months to September of 64.6 billion yen ($574 million) on sales of 388.9 billion yen, which were up 4.0%. That's raising concern over whether Nintendo can reach its Switch sales target. The company maintained its full-year forecasts. Despite announcing and releasing two paid content packs for Zelda, Nintendo has never formally said that it had finished working on the game.

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