Nintendo Releases Second Quarter Financial Results for Fiscal Year 2024-25 – Announcement

By the end of the business day in Japan, Nintendo opened up about their financials for the July to September quarter, revealing some revisions and for the first time in a while, they’re scaling down their forecasts.

All financial data is shown in yen (¥), with US dollars as reference, by using an exchange rate of ¥152.224 = $1.

Financial Snapshot

• Revenue: ¥276.661 billion (~$1.817 billion), reflecting a 19.78% decline year-over-year.
• Operating Income: ¥67.003 billion (~$440 million), dropping by 29.21%.
• Ordinary Income: ¥33.631 billion (~$221 million), seeing a steep fall of 73.36%.
• Digital Sales: ¥79.2 billion (~$520 million), down by 19.1%, with digital purchases making up 56.3% of the fiscal year’s software sales.
• Mobile and IP Revenue: ¥16.5 billion (~$108 million), experiencing a 28.88% decrease.

Hardware Deliveries

The Nintendo Switch has reached lifetime sales of 146.04 million, shipping 2.62 million units this past quarter. Here’s the breakdown: 1.26 million OLED models, 720,000 standard models, and 640,000 Switch Lites—featuring the exclusive Echoes of Wisdom-branded model. To outpace the DS in lifetime sales, Nintendo needs to sell another 7.98 million units, and for the PlayStation 2, they have a gap of 12.66 million to close.

Fresh Launches

This quarter, Nintendo rolled out three new games, gaining a boost from The Legend of Zelda: Echoes of Wisdom which shipped a remarkable 2.58 million units within its first five days. Meanwhile, neither Nintendo World Championships: NES Edition nor Emio: The Smiling Man Famicom Detective Club hit the million mark in shipments. Updates came through for two titles from the previous quarter: Paper Mario: Thousand Year Door remaster shipped 1.94 million, and Luigi’s Mansion 2 HD clocked in 1.57 million.

Back Catalogue Sales

The top 10 list remains unchanged, with Mario Kart 8 Deluxe hitting lifetime shipments of 64.27 million units. There’s chatter that Pokémon Scarlet and Violet might soon surpass Sword and Shield as the second top-selling games in Pokémon’s storied history.

Additional News

An interesting financial twist—a ¥22.4 billion hit in foreign exchange losses, following a previous gain of ¥30.6 billion in the first quarter, played a role in the drop in operating income you see today. Nintendo also adjusted their forecasts, all pointing south. They’ve lowered revenue expectations by 5.2% (down to ¥1280 billion), and operating profit sees a 10% drop (to ¥360 billion). They’ve also revised Switch hardware projections from 13.5 million units shipped to 12.5 million and software from 165 million to 160 million—acknowledging a slowdown as the Switch enters its eighth year on the market.