Mario poses during the Super Nintendo World Welcome Celebration at Universal Studios Hollywood on February 16, 2023 in Universal Studios Hollywood, California.
Rodin Aikenroth | Getty Images Entertainment | Getty Images
Nintendo The company on Tuesday cut its forecast for Switch sales for the fiscal year ending in March 2025 due to weakening demand for the aging console.
The Japanese gaming giant said it expects Switch sales to reach 12.5 million units during the period. This was lower than the previous forecast of 13.5 million units.
Nintendo has been dealing with declining demand for its flagship Switch console, more than seven years after its launch.
Investors are awaiting news on a follow-up to the Switch, which they hope will revive Nintendo’s gaming business. In the past, the company explain The Switch’s successor will be released in the current fiscal year ending in March 2025.
Nintendo also lowered its sales and operating profit forecasts for the full fiscal year. The company said it now expects sales of 1.28 trillion yen, compared with its previous forecast of 1.35 trillion yen. Operating profit expectations for the period were significantly lowered from 400 billion yen to 360 billion yen.
Here’s how Nintendo’s performance in the fiscal second quarter ended September 30 compares to LSEG’s forecast:
- income: 276.7 billion yen ($1.8 billion), compared with expectations of 273.34 billion yen.
- net profit: 27.7 billion yen, compared with the expected 48.06 billion yen.
Revenue fell 17% from the same period last year. Net profit fell by more than 69% compared with the same period last year.
This breaking news story is being updated.
