{"id":32672,"date":"2023-11-07T08:14:44","date_gmt":"2023-11-07T08:14:44","guid":{"rendered":"https:\/\/microloannexus.com\/news\/nintendo-hikes-profit-forecast-as-mario-movie-zelda-game-breathe-new-life-into-switch-console\/"},"modified":"2023-11-07T08:14:46","modified_gmt":"2023-11-07T08:14:46","slug":"nintendo-hikes-profit-forecast-as-mario-movie-zelda-game-breathe-new-life-into-switch-console","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=32672","title":{"rendered":"Nintendo hikes profit forecast as Mario movie, Zelda game breathe new life into Switch console"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Nintendo<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> reported better-than-expected sales and profit for its fiscal second quarter on Tuesday, as it continues to get a bump from the &#8220;Super Mario Bros. Movie&#8221; and flagship Zelda game released this year.<\/p>\n<p>Here&#8217;s how Nintendo did in its fiscal second quarter versus LSEG estimates:<\/p>\n<ul>\n<li>Revenue: 334.9 billion Japanese yen ($2.2 billion) versus 317.3 billion yen expected.<\/li>\n<li>Net profit: 90.3 billion yen versus 75.7 billion yen expected<\/li>\n<\/ul>\n<p>Nintendo&#8217;s revenue fell 4% year-on-year and its profit dropped 19%. <\/p>\n<p>In the previous quarter, the company got a boost from the success of the &#8220;Super Mario Bros. Movie&#8221; and the highly anticipated May release of the &#8220;The Legend of Zelda: Tears of the Kingdom&#8221; game, which drove people to buy the Japanese giant&#8217;s flagship Switch gaming console. That seems to have continued into the September quarter.<\/p>\n<p>For the six month period of April to September, Nintendo reported a 21.2% year-on-year rise in revenue to 796.2 billion yen while net profit jumped 17.7% to 271.2 billion yen.<\/p>\n<p>&#8220;Sales in the first half of the fiscal year were the largest since the launch of Nintendo Switch,&#8221; Nintendo said in a statement, citing the increase in sales in its video game business and the depreciation of the Japanese yen.<\/p>\n<\/div>\n<div class=\"group\">\n<p>Buoyed by this, Nintendo raised its full-year forecasts. The company said net sales for its fiscal year, which ends in March 2024, will be 1.58 trillion yen, up from a previous forecast of 1.45 trillion. Nintendo on Tuesday said net profit will be 420 billion yen, up from the previous forecast of 340 billion yen.<\/p>\n<p>Investors have been concerned that sales of the Nintendo Switch, which is now more than six years old, have peaked. Many have called on the company to release a new console. However, Nintendo&#8217;s results underscore how its recognizable characters can continue to drive sales for the Switch.<\/p>\n<p>The Japanese gaming giant said it sold 6.84 million Switch consoles in the April to September period, up 2.4% year-on-year. Nintendo maintained its forecast for sales of 15 million Switch consoles in the current fiscal year.<\/p>\n<p>Nintendo has sold 19.5 million units of &#8220;The Legend of Zelda: Tears of the Kingdom&#8221; game in the first six months of its fiscal year. &#8220;Mario Kart 8 Deluxe,&#8221; which was released on the Switch in 2017, was Nintendo&#8217;s second-most popular game in the period helped by the success of the Mario movie, which has generated more than $1 billion at the box office since its April release. The film was produced in collaboration with Universal Studios. <\/p>\n<p><em>Disclosure: Comcast is the parent company of NBCUniversal and CNBC.<\/em><\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/11\/07\/nintendo-ntdoy-earnings-report-q2-2024.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nintendo reported better-than-expected sales and profit for its fiscal second quarter on Tuesday, as it continues to get a bump from the &#8220;Super Mario Bros. Movie&#8221; and flagship Zelda game released this year. Here&#8217;s how Nintendo did in its fiscal second quarter versus LSEG estimates: Revenue: 334.9 billion Japanese yen ($2.2 billion) versus 317.3 billion<\/p>\n","protected":false},"author":1,"featured_media":32673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-32672","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nintendo hikes profit forecast as Mario movie, Zelda game breathe new life into Switch console | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Nintendo reported better-than-expected sales and profit for its fiscal second quarter on Tuesday, as it continues to get a bump from the &quot;Super Mario\" \/>\n<meta name=\"robots\" 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