Nintendo Releases Financial Results for Q2 of Fiscal Year 2024-25 – News

As the Japanese business day wrapped up, Nintendo shared its financial results for the July to September quarter, marking the first time in a while that they’ve adjusted their projections downward.

For those eager to crunch the numbers, all amounts are listed in yen (¥), but we’ve also provided an equivalent in US dollars, based on a conversion rate of ¥152.224 = $1.

### Financial Snapshot

Nintendo reported a revenue of ¥276.661 billion, which is roughly $1.817 billion, reflecting a 19.78% decrease from the previous year. Operating income also fell, coming in at ¥67.003 billion (around $440 million), down 29.21%. Ordinary income took a significant hit, dropping 73.36% to ¥33.631 billion, or about $221 million. Digital sales echoed this trend, declining by 19.1% to ¥79.2 billion, approximately $520 million, despite digital downloads making up 56.3% of their software sales. In the mobile and intellectual property segment, revenue decreased by 28.88% to ¥16.5 billion, which is around $108 million.

### Hardware Updates

The Nintendo Switch continues its impressive run, with life-to-date sales reaching 146.04 million units, thanks to 2.62 million units shipped this quarter alone. This breaks down to 1.26 million OLED models, 720,000 standard Switch models, and 640,000 Switch Lites—though the only special edition was the Echoes of Wisdom-branded Lite. To surpass the lifetime sales of the DS, Nintendo would need to move 7.98 million more systems, while catching the PlayStation 2 requires 12.66 million.

### New Software Highlights

Nintendo launched three new titles this quarter, a step up from the sole release of Pikmin 4 during the same period last year. Leading the charge is The Legend of Zelda: Echoes of Wisdom, which shipped 2.58 million units in just five days. However, Nintendo World Championships: NES Edition and Emio: The Smiling Man Famicom Detective Club didn’t quite hit the million mark. Additionally, games from the prior quarter saw updates: Paper Mario: Thousand Year Door remaster shipped 1.94 million units, and Luigi’s Mansion 2 HD moved 1.57 million.

### Catalogue Sales and More

The top 10 games list remains solid without any changes, with Mario Kart 8 Deluxe soaring to 64.27 million units in lifetime sales. Pokémon Scarlet and Violet are on track to overtake Sword and Shield as the second-best-selling titles in the franchise’s history.

### Additional Announcements

Nintendo reported a ¥22.4 billion loss in foreign exchange after enjoying ¥30.6 billion in gains during the first quarter. This dramatic shift is a leading factor in the steep drop in their operating income. Moreover, they revised several forecasts—all pointing downwards. Revenue expectations were trimmed by 5.2% to ¥1,280 billion, and operating profit forecasts were slashed by 10% to ¥360 billion. Expected Switch hardware shipments were lowered from 13.5 million to 12.5 million units, and software sales projections dropped from 165 million to 160 million, acknowledging a slowdown in Switch sales during its eighth year on the market.