Nintendo Announces Financials & Increases FY Forecast; Switch Sell-Through Estimated Over 100 Million

Nintendo announced its quarterly financial results for the first nine months of the fiscal year, related to the period ended on December 31, 2021.

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Today Nintendo announced its quarterly financial results for the first nine months of the fiscal year, related to the period ended on December 31, 2021.

We learn that the company’s net sales and operating profit have dropped respectively by 6% and 9.3% year-on-year.

That being said, the results are still extremely strong compared with historical data and lose out to the previous year just because they’re compared with the giant called Animal Crossing: New Horizons. The Holiday season also pulled the numbers for both net sales and operating profit considerably closer to the previous fiscal year’s records than they were after the first six months.

We learn that the company increased its full-year financial forecast by 3.1% for sales and 7.7% for operating profit, despite lowering the forecast to Nintendo Switch units sold during the fiscal year to 23 million (from 24 million). The forecast for software sales has been increased to 220 million (from 200 million), which more than makes up for the lower-than-expected hardware sales.

On top of that, we learn that Nintendo estimates that the sell-through to customers of the Switch is now at over 100 million.

Sales for hardware were the second-highest ever for the same period (following the previous fiscal year) despite scarcity due to the usual semiconductor shortage.

The Oled model is said to be off to a good start, while the non-Oled model and the Lite still retained sales momentum, maintaining a “good sales balance.”

Below you can check out the sell-through estimates to customers of various games between October and December, on top of an update on cumulative shipments for titles that are above one million.

Sales for software in the Holiday season were the highest ever since the launch of the Nintendo Switch.

If you want to compare, you can read our article dedicated to the previous quarter and an update on Nintendo Switch shipments.

About the author

Giuseppe Nelva

Proud weeb hailing from sunny (not as much as people think) Italy and long-standing gamer since the age of Mattel Intellivision and Sinclair ZX Spectrum. Definitely a multi-platform gamer, he still holds the old dear PC nearest to his heart, while not disregarding any console on the market. RPGs (of any nationality), MMORPGs, and visual novels are his daily bread, but he enjoys almost every other genre, prominently racing simulators, action and sandbox games. He is also one of the few surviving fans on Earth of the flight simulator genre.