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Nintendo Releases Earnings For Q1 2018 – The Company Sold Almost 20 Million Switch Consoles

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Nintendo just released its earnings for the Q1 2018 and the updated sales figures for its Switch console.

According to the tech giant, it managed to sell 19.67 million Nintendo Switch consoles as of June 30th.

This means that the actual figure has already probably reached 20 million.

Nintendo is also predicting that it will sell 20 million units in the year starting April 2018 and ending March 2019.

Nintendo sold 1.8 million consoles

Until now, the company only managed to sell 1.88 million consoles after three months which is a bit down year on year.

The holiday season, on the other hand, will definitely be busier for the company with massive titles such as Super Smash Bros. Ultimate and the two Pokemon: Let’s Go games that are set to be released.

Overall, Nintendo managed to have an operating profit of 30.5 billion yen which means $275 million off revenue of 168 billion yen which is $1.51 billion this quarter.

This means year on year improvements of 88.4% and 9.1%.

“The mixed results are the latest twist for Nintendo, which has gone from one of Japan’s hottest stocks to a target for short-sellers — wiping out all its gains in the past year. But with Switch software and hardware shipments holding up, it gives new President Shuntaro Furukawa the chance to focus on the launch of its highly-anticipated online game service in September. The Switch, a hybrid console that can be used at home or on-the-go, is Nintendo’s biggest bet in years,” Bloomberg reported.

Mario Kart 8 Deluxe has joined Super Mario Odyssey as the console’s second title to break 10 million units sold.

It’s also important to note that The Legend of Zelda: Breath of the Wild will probably do the same thing during this quarter of 2018.

Hideki Yasuda, an analyst at Ace Research Institute, said that the hardware was pretty weak, but software sales jumped by a lot.

“The overall impression is pretty good. But the question is if they can keep software sales going, which is critical for profits,” he concluded via Bloomberg.

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I have been blogging and posting articles for over eight years, but my passion for writing dates back in 2000. I am especially enthusiastic about technology, science, and health-related issues. When I’m not researching and writing the latest news, I’m either watching sci-fi and horror movies or checking out places worth visiting and building deep memories for later in life. I believe in empathy and continually improving myself.

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