Nintendo Expected To Make Five Times The Expected Profit, Sell More Than Expected Amount Of Nintendo Switches, In New Financial Report
The Switch turned their fortunes around.
Nintendo will be sharing its financial earnings report later this week, where it is finally expected to reveal the exact number of units that the Nintendo Switch has sold so far. And it looks like, for the first time in a very long time, financial analysts are bullish on the company and its prospects, buoyed no doubt by the Switch’s success, as well as the release of key software, and the NES Classic Mini.
Analysts expect Nintendo to have turned a profit of ¥94.4 billion ($865.6 million) for the 2016-17 financial year, according to The Wall Street Journal– more than five times the ¥16.5 billion the company turned a year ago. Revenue is expected tobe at ¥477.6 billion ($4.35 billion), down from ¥504.5 billion a year ago but slightly higher than Nintendo’s own forecast of ¥470 billion. The Nintendo Switch is expected to have sold 2.3-2.5 million units worldwide in March, beating Nintendo’s forecasts by anywhere from 10-25%. Switch software, and the success of the NES Classic Mini, are expected to have contributed to the company’s success, too.
After Nintendo spent years battling with the financial failure of the Wii U, it is good to see them doing well again. Nintendo will be sharing its financial report on April 27. Stay tuned to GamingBolt for full coverage.