Nintendo financial results – November 2024 – Switch at 146.04 million units

Nintendo just posted its latest financial results for November 2024. Covering the first two quarters of its financial year (six months), the company is sharing the latest on Switch sales and more.

Below are the full highlights:

– Operating profit this period – 121.5 billion yen 
– Ordinary profit this period – 147.1 billion yen

– Switch hardware total – 146.04 million
– Switch software total – 1,306.10 million units

– Overall Switch sales this period – 6.84 million
– Standard Switch sales this period – 1.25 million
– Switch OLED sales this period – 4.69 million
– Switch Lite sales this period – 0.90 million

– Modified Switch hardware forecast: reduced from 13.50 million to 12.50 million
– Modified Switch software forecast: reduced from 165 million to 160 million

– Mobile, IP related income, etc. this period – 31.2 billion yen

Regarding the Nintendo Switch business during the first half (April through September 2024) of this fiscal year, Paper Mario Thousand-Year Door, released in May, sold 1.94 million units, Luigi’s Mansion 2 HD, released in June, sold 1.57 million units, and The Legend of Zelda: Echoes of Wisdom, released in September, got off to a good start posting sales of 2.58 million units. In addition, we saw stable sales in titles released through the end of the previous fiscal year, with Mario Kart 8 Deluxe selling 2.31 million units (for cumulative sales of 64.27 million units).

As a result of these factors, the total number of million-seller titles during this period reached nine, including titles from other software publishers. Hardware sales totaled 4.72 million units, and software sales totaled 70.28 million units. Hardware and software sales in the first half of last fiscal year were substantially driven by the May 2023 release of The Legend of Zelda: Tears of the Kingdom, so compared to then, hardware sales were down 31.0% and software sales were down 27.6% year-on-year.

Turning to our digital business for our dedicated video game platform, digital sales totaled 159.9 billion yen, down 26.5% year-on-year, mainly due to a decrease in sales of Nintendo Switch downloadable versions of packaged software.

In the mobile and IP related business, sales rose significantly in the same period of last fiscal year, thanks to the high level of audience engagement with The Super Mario Bros. Movie, which was released in April 2023. For this period, sales came to 31.2 billion yen, down 43.3% year-on-year, due to a decrease in revenue related to the movie.

The end result is that overall sales reached 523.2 billion yen, with sales outside of Japan of 391.0 billion yen accounting for 74.7% of the total. Operating profit came to 121.5 billion yen. Despite foreign exchange losses of 22.4 billion yen, interest income of 30.8 billion yen and other factors resulted in ordinary profit of 147.1 billion yen, and profit attributable to owners of parent of 108.6 billion yen.

Although Nintendo Switch hardware and software unit sales through the first half of the fiscal year were both below our initial expectations, many people continue to play with Nintendo Switch even in its eighth year since launch.

For hardware, by continuing to convey the appeal of Nintendo Switch, we try to not only put one system in every home, but several in every home, or even one for every person. Another objective is to continually release new offerings so more consumers keep playing Nintendo Switch even longer and we can maximize hardware sales. For software, in addition to Super Mario Party Jamboree, released in October, we have other titles planned for release, such as Mario & Luigi: Brothership (November), and Donkey Kong Country Returns HD (January 2025). Other software publishers plan to release a wide variety of titles, and we will strive to invigorate the platform by continually introducing new titles in addition to the existing titles.

We have modified the Nintendo Switch hardware and software sales unit forecasts for the fiscal year. in consideration of the sales trend through the six months ended September 30, 2024, and revised the financial forecast originally published on May 7, 2024.

Thanks to Nintendo for today’s results. We have results from the previous period here.