Nintendo Profit Down 55% as Sales Stall During Wait for Switch 2
variety.comJennifer Maas TV Business Writer Nintendo saw its profit more than halve in its first fiscal quarter of the year as sales of the Switch console continued to fall while consumers await news on a successor console.
In its fiscal Q1 2025 earnings report, released Friday, the Japan-based video game giant reported selling 2.1 million Switches — a console that is now more than seven years old — from April 1 to June 30, down 46% year over year.
Revenue for the quarter was 246.6 billion Japanese yen and income was 80.9 billion. Analysts had forecast revenue of 289.61 billion yen and income at 70.73 billion yen, according to consensus data provided by LSEG, formerly Refinitiv.
When Nintendo released its previous quarter results in May, Nintendo president Shuntaro Furukawa said, “We will make an announcement about the successor to Nintendo Switch within this fiscal year.” Nintendo’s fiscal year runs April 1 to March 31, meaning this announcement will occur by March 2025, according to Furukawa’s statement.
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