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.