Nintendo's annual profit rockets by 500% after selling 15M Switch consoles

Muriel Hammond
April 27, 2018

Nintendo announced its financial earnings earlier today. According to The Verge, the sales boost created a $1.62 billion profit for the company - a 505 percent increase from the previous fiscale year - and upped its overall revenue by 116 percent to $9.66 billion. Revenue was also up by an impressive 116 percent to hit 1.06 trillion yen ($9.7 billion) over the period as Nintendo sold 15 million Switch units, vastly out-performing the initial target of 10 million set a year ago.

Things are equally impressive on the software side of things, where the company revealed that there have been 68.97 million units sold so far. Here's what Kotaku has to say about his successor and his part achievements "Furukawa has an impressively long history working in multiple areas of upper management at Nintendo". That will equate to some 20 million Switches sold come March 2019, if Nintendo's predictions are correct.

After only two and half years in the job, Nintendo president Tatsumi Kimishima has retired from his role. For comparison, the Gamecube sold 22 million units in its lifetime and the Wii U sold only 14 million units.

"Furukawa comes across as thoughtful, very knowledgeable and quite well informed", said Atul Goyal, an analyst at Jefferies Group, who has met him several times in person. "He may be the flawless person to fill the communication gap that exists between Nintendo and investors". Furukawa-san, who you can see on the left in the image above, has promised to bring out the company's full potential while balancing Nintendo's traditions of being both original and flexible.

Last year's numerous blockbuster hits include games such as Zelda, Super Mario, Mario Kart and Splatoon 2. Finally, Nintendo's mobile games business, which now has Super Mario Run, Fire Emblem Heroes, and Animal Crossing Pocket Camp, saw a 64% year-on-year rise to 39.3 billion yen (£25 million).

Mizuho Securities senior analyst Takeshi Koyama said in a report to clients this month that Labo boosts "potential for greater penetration of the Switch". More titles in the Mario series will also launch in the course of this year, for the Switch as well as smartphones.

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