Current Events > Tears of the Kingdom & Mario Movie boost Nintendo to record profit

(+) Yeah! (+)

Nintendo just had a bumper quarter thanks to the release of The Legend of Zelda: Tears of the Kingdom, as well as the Super Mario Bros. Movie. Both sales and profits were notably large for a first quarter the company noted in todays earnings release, which covers the three months through June 30th.

Net sales stood at 461.3 billion (around $3.2 billion), a 50 percent increase versus last year, while operating profit rose 82.4 percent to 185.4 billion (around $1.3 billion). Bloomberg notes that its the highest first-quarter profit recorded by the company, beating its previous 2020 high set in the the first year of the pandemic just after the release of Animal Crossing: New Horizons.

The benefits of the release of Zelda and the Mario movie were felt directly and indirectly. Tears of the Kingdom sold 18.51 million units during Nintendos first quarter and is now the ninth best-selling Nintendo game for the console. Meanwhile, the Mario movie helped increase Nintendos mobile and IP related income by 190.1 percent versus last year. The Super Mario Bros. Movie has been a huge success, taking over $1 billion at the box office worldwide. Nintendos earnings release adds that the movie helped promote sales of its existing Mario games.

While sales of Switch consoles were still up compared to the same quarter last year (3.91 million units versus 3.43 million units), the consensus is that this hardware is nearing the end of its life, and Nintendos release calendar for the rest of the year is looking significantly leaner. The big question is when Nintendo might announce a Switch successor. Earlier this week VGC reported that a new console is planned for the second half of 2024, and that some of Nintendos software partners have already received development hardware for the forthcoming device.

https://www.theverge.com/2023/8/3/23818357/nintendo-earnings-q1-2024-zelda-totk-mario-movie-profits

cool

bump

Now they will invest in proper online gaming.

Haha, made a funny.

Nintendo FTW!!