Nintendo has raised its sales forecast for its Switch console and its profit after reporting higher-than-expected financial results for the final quarter of 2023.
The Kyoto-based company now expects to sell 15.5 million Switch units in the fiscal year that ends in March, up from an earlier forecast of 15 million. The giant also raised its revenue, operating and net profit forecasts.
Operating profit for the quarter to the end of December came in at 184.5 billion JPY (1.2 billion USD), beating analysts’ average forecast, although the amount was less than the company reported in the same period a year earlier. early. Sales revenue fell less than expected, Nintendo announced.
Special themed editions of the Switch have helped boost sales in the Japanese market above expectations.
Nintendo’s stock price hit an all-time high this year following a successful expansion into the movie industry with “Super Mario Bros: The Movie” and the strong debut of “Legend of Zelta: Tears of the Kingdom”.
The current Switch model will be Nintendo’s “core business” going into 2024, company president Shuntaro Furukawa announced after presenting financial results. The company’s plan for the next fiscal year will be presented with Nintendo’s upcoming financial report.
Those hopes were bolstered by Omdia’s prediction in January, which indicated that a new Switch was on the way in 2024. The now seven-year-old original hybrid console has outlasted most of its competitors thanks to a string of hit titles from Nintendo’s creative studios.
