Nintendo Forecasts A 121% Profit Surge This Year

Nintendo has published its financial results and things are looking extremely promising for the Kyoto based company. The company expects profit for the current fiscal year to jump by 121 percent and said that they have forecast sales of 10 million Switch units.

The Japanese gaming giant forecast for the fiscal year ending March 31, 2018:

  • Net sales of 750 billion yen ($6.7 billion)
  • Operating profit of 65 billion yen
  • 10 million units of the Switch consoles to be sold

On Thursday, Nintendo reported earnings for the fiscal year ended March 31, 2017. The key figures are:

  • Net sales of 489.1 billion yen, a 3 percent year-on-year decline, but beating its own guidance
  • Operating profit of 29.4 billion yen, a fall of 10.7 percent year-on-year

“The brand has been reinvigorated and now with that revitalized branding of the licenses, this year and into next year is about pushing on with new differentiated cutting edge tech,” Neil Campling, head of global technology, media and telecom research at Northern Trust Capital Markets, told CNBC by phone.

Source

Filed under: Nintendo, Switch Tagged: Nintendo

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Author: codymkw

Hey my name is Cody I'm 27 and a huge fan of Nintendo I love all their games my favorite is the Animal Crossing series when I'm not playing games I love to watch anime also I'm the Leader/Creator of the Miraculous Ladybugs clan ♥ Facebook: https://facebook.com/CodyMKW Twitter: https://twitter.com/CodyMKW Twitch: https://www.twitch.tv/codymkw 3ds Friend Code: 0645-5821-2438 Wii U ID: CodyMKW Switch Friend Code: SW-2549-4631-6600 AC Pocket Camp ID: 2671-2628-198 Fire Emblem Heroes ID: 4718228114 MKWii Friend Code: 0690-6537-7241 MK7 Community Code: 26-8478-6259-7164 MK8 Tournament Code: 2360-4199-2438 MK8D Tournament Code: 3500-7504-3371

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