Monday December 4, 2023

Nintendo Earnings, Switch Sales Hit Roadblock

Nintendo/Design: Alex Brooks
Linkedin
Copy Link
Link Copied
Link Copied

Nintendo’s pandemic hot streak may finally be over.

The video game developer reported its first-quarter results Thursday, recording a 17.3% decrease in operating profit to $1.09 billion, and a 9.9% decrease in revenue to $2.94 billion.

Sales of the Switch console declined 22% year-over-year, which Nintendo president Shuntaro Furukawa attributes to the global microchip shortage.

  • The flagship Switch — retailing at $299 — saw an 8% increase in sales.
  • But sales of the Switch Lite — retailing at $199 — “more than halved.”
  • Nintendo sold a total 4.45 million Switch consoles during the quarter.

Overall, Nintendo has sold 89 million Switches since the console was released five years ago.

With the exclusion of “Animal Crossing: New Horizons” — which accounted for 40% of Nintendo’s first-party game sales last year — software sales exceeded last year’s fiscal Q1. “Mario Kart 8 Deluxe” sales hit 37 million.

Nintendo plans to spend around $910 million buy back up to 1.51% of its shares. Last month, the company announced that a new OLED Switch will be released in October for $349.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Nick Saban highest paid college football head coach.

Who Is Highest-Paid Coach in College Football?

Saban remains atop highest-paid head coaches getting over $11 million annually.
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Sponsored

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.

WBD Pursues ‘Different’ Strategy For Sports on Max

Company to place all of its live sports on new streaming tier
podcast thumbnail mobile
Front Office Sports Today

CFP Selection Turns Heads with Controversial Selection

0:00
0:00

Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Wasserman
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers
PENN ESPN

PENN Entertainment's High-Stakes Gamble with ESPN Bet Kicks Off on Tuesday

After his Barstool failure, PENN CEO Jay Snowden has plenty riding on a deal with ESPN.
The U.K. regulator is Microsoft's last major hurdle to pass.
August 22, 2023

U.K. Reconsiders Activision Takeover Amid Revised Microsoft Offer

Microsoft's new proposal grants cloud streaming rights to Ubisoft.
A general view as Faze Clan takes on EUnited during the Call of Duty League Finals e-sports event at Miami Beach Convention Center.
October 20, 2023

FaZe Clan, Once Valued at $725M, Sold at $16M Valuation to Jerry Jones-Backed GameSquare

The deal, closing in Q4 2023, is being characterized as a merger.
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
A judge denied the FTC’’s injunction request to block Microsoft’s deal.
July 11, 2023

Microsoft Beats FTC to Move Forward With Activision Blizzard Takeover

A judge denied the FTC’’s injunction request to block Microsoft’s deal.
The FTC is filing an injunction to block Microsoft's deal.
June 12, 2023

FTC Makes Another Move to Block Microsoft’s Activision Blizzard Takeover

Microsoft's $69B takeover faces scrutiny in the U.S and U.K.
Goals from the Stanley Cup Final are being shown as 3D videos on Roblox.
June 7, 2023

NHL Uses Roblox to Recreate Stanley Cup Final Goals in 3D

The Roblox activation leverages the NHL's puck and player tracking system.
Nike's .Swoosh NFTs will integrate with future games from EA Sports.
June 2, 2023

Nike NFTs to Appear in EA Sports Video Games

Nike launched its .Swoosh NFT marketplace last year.