Nintendo second-quarter profit hits eight-year high, powered by Switch sales

The Nintendo Switch Has Upended the Video Game Market

The Nintendo Switch Has Upended the Video Game Market

This resulted in a 34 billion yen ($301 million USD) profit in the last quarter, up from ¥30 billion a year earlier. The Kyoto-based company maintained its full-year forecasts. The company said that it sold 5.07 million Switch consoles in the six months ended September 30, up 3.7% compared to Switch sales in the same period in 2017.

While price drops and bundles can have an impact on console sales, another big driver is software releases.

Despite that, the Wall Street Journal reports that Nintendo chief executive Shuntaro Furukawa said during a press conference that the Switch's momentum is in line with what the company expected and that it still believes it can hit its goal of 20 million Switch sold during this fiscal year.

"The PlayStation is doing great, Spider-Man sold like insane in the second quarter", said Kazunori Ito, an analyst at Morningstar Investment Services in Tokyo.

Nintendo's quarterly sales growth slowed to 1% year-over-year, which is the worst pace for the company since the Switch launched.

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For the upcoming holiday season, Nintendo is counting a major lift from Super Smash Bros. In the case of the Nintendo Switch portable console, the game has been downloaded by almost half of all the brand's now existing Switch users. However, considering the game's continued presence on the NPD charts, Nintendo may support the game more. In total, the device has seen almost 1,000 releases so far this year, up from about 400 in 2017, according to fan site Perfectly Nintendo. If any first-party Nintendo title in the world were to boost the Switch into Wii-like numbers, I think it'd be that one.

Smartphone games revenue in the quarter rose 9 percent from a year ago to 9.7 billion yen.

"Still, remakes and indie titles aren't compelling enough for most people to buy a new console".

While both the Pokemon and Smash franchises have historically sold well on previous generation systems, they're both significantly outsold by Nintendo's Mario Kart franchise.

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