Nintendo profits down but remain strong
As predicted, Nintendo's COVID-19 adventure is over and quarterly profits are down. The company remains in a strong position though and plans to spend $900 million on a stock buyback.
Net sales dropped by 9.9% to ¥322.6 billion for the quarter, with operating profits down 17.3% to ¥119.7 billion and net profits down 12.9% to ¥92.7 billion. This is pretty much as expected following the surge in console and game sales during the lockdowns, and Nintendo's outlook remains strong.
- Switch hardware sales pass 89 million, with software at 632 million sales
- Top Nintendo Switch titles as of June 2021:
- Mario Kart 8 Deluxe (37.08 million)
- Animal Crossing: New Horizons (33.89 million)
- Super Smash Bros. Ultimate (24.77 million)
- The Legend of Zelda: Breath of the Wild (23.20 million)
- Pokémon Sword and Shield (21.85 million)
- Super Mario Odyssey (21.40 million)
- Super Mario Party (15.72 million)
- Pokémon: Let's Go (13.57 million)
- Splatoon 2 (12.45 million)
- Ring Fit Adventure (11.26 million)
Zelda & OLED: We will see the results for The Legend of Zelda: Skyward Sword HD next quarter, and the updated Switch OLED model is scheduled to launch in October.
New normal: Mario Golf: Super Rush has become the second-best-selling title in the series, New Pokémon Snap has already sold over 2 million units outside Japan, and Pokémon Go has kept Nintendo’s mobile revenue stable.