Official Nintendo sticks to its annual sales forecast as Q1 operating profit drops 70% year-on-year

[Megan]

Nintendo says its sales forecast for the financial year hasn’t changed, despite reporting a 70% year-on-year drop in operating profit in Q1.

The company’s latest financial results, which cover the period of April to June 2024, report an operating profit of ¥54.5 billion ($366 million), which is down 70.6% compared to the same period last year.

Nintendo says the drop is due to “the decline in gross profit” and the rise in SG&A (selling, general and administrative) expenses.

Source: Nintendo sticks to its annual sales forecast as Q1 operating profit drops 70% year-on-year | VGC

 

[MrLightningZoltt11]

They havent been pumping huge titles this year so far IMO, I fail to see any reason else

 

[Realistic]

Tokyo-based analyst Serkan Toto also told Bloomberg that he would be surprised if Nintendo does indeed manage to sell 13.5 million Switch consoles by the end of the financial year.

Well unless they re gearing up to announce the Switch 2, earning back profits for this year seems unlikely lol

 

[Ron-The_Ravenn99]

Couldnt they earn it back from more adaptations and merch sales? dk shit about marketing but for Nintendo who loves dollar signs, this is pretty low