Nintendo has released updated sales figures for its new Switch 2 console, which now total 5.82 million units as of Friday. The company’s shares have rallied by roughly 40% so far this year on excitement over the device.
In the fiscal first quarter, Nintendo more than doubled revenue to $3.8 billion, driven primarily by higher sales of the Switch 2 console due to its higher price point compared to its predecessor. However, the company’s intellectual property-related business saw a decline in revenue due to a decrease in “The Super Mario Bros. Movie” revenue.
Despite this, Nintendo maintained its annual sales forecast for the Switch 2 unchanged at 15 million units. Analysts believe this target is conservative and that the company will likely exceed it. One factor to watch is an expected hit from U.S. tariffs, but analysts at Morningstar say Nintendo will weather the storm by increasing its gaming audience.
Nintendo’s director of equity research, Kazunori Ito, noted that while profitability may decline in the short term due to higher tariff rates, the company will recoup losses in the long term by selling more games to a larger user base. The company also stated that U.S. tariff measures have no significant impact on its earnings forecast for this fiscal year.
Source: https://www.cnbc.com/2025/08/01/nintendo-earnings-q1-2025.html