Nintendo, the Japan-based videogame company, has reported a significant increase in profit and upgraded its outlook following successful sales of its latest Zelda and Mario games.
Robust Financial Performance
In the first half of the fiscal year, Nintendo achieved an operating profit of 279.9 billion yen ($1.9 billion), a remarkable 27% surge compared to the same period last year. Net sales also experienced substantial growth, rising by 21% to reach 796.2 billion yen.
Boosted Sales with Mario Games
The release of The Super Mario Bros. Movie in April played a pivotal role in driving sales for Mario games. During the six-month period ending in September, Nintendo recorded the sale of more than one million units for five Mario titles. Moreover, The Legend of Zelda: Tears of the Kingdom emerged as the top-selling game within this period, with an impressive 19.5 million copies sold.
Reflecting its strong performance, Nintendo has revised its net profit guidance for the fiscal year 2024 to 420 billion yen from the previous estimate of 340 billion yen. Additionally, the company has raised its forecast for software units to 185 million, up from 180 million.
Industry experts have recommended Nintendo stock, considering the company’s valuable franchises and the anticipation surrounding its upcoming successor to the Switch console. Analysts predict that this new console has the potential to fuel another wave of robust financial results.