Nintendo Profit Declined Year-on-year

The Nintendo Switch has now sold 89 million units.

Nintendo has released its earnings for the period April-June, and compared to this period last year both revenue and profit are down. Not really surprising if you consider that the company back then was riding on the high from the phenomenal sales of Animal Crossing New Horizons that had just released.

Hardware sales were down by 21.7% to 4.45 million units. Software sales declined with 10.2% to 45.29 million units. The Nintendo Switch has now reached a lifetime sales of 89.04 million units. Revenue decreased 9.9% to 322.6 billion yen ($2.94 billion), while operating profit was 119.6 billion yen ($1.09 billion), a 17.3-percent decline year-on-year.

While Nintendo didn’t have any big releases in its last quarter The Legend of Zelda: Skyward Sword just released in this one. The next quarter will be seeing the release of the Nintendo Switch OLED model, Metroid Dread, Pokémon Brilliant Diamond and Shining Pearl, among others.

Nintendo also announced it would be buying back ¥100 billion in shares using excess cash, which will please investors.

Source: The Verge

Categories:Articles, Games, Misc, News, Nintendo

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