Nintendo Co. Switch 2 game consoles at a Bic Camera Inc. electronics store in Tokyo, Japan, on Thursday, June 5, 2025. Nintendo Co. fans from Tokyo to Manhattan stood in line for hours to be among the first to get a Switch 2, fueling one of the biggest global gadget debuts since the iPhone launches of yesteryear.
Kiyoshi Ota | Bloomberg | Getty Images
Nintendo more than doubled revenue in its fiscal first quarter, as the company logged bumper sales of its Switch 2 console in the first month of release.
Sales of Nintendo’s Switch 2 now total 5.82 million units, the company said in an update on its investor relations website Friday.
Here’s how Nintendo did in the quarter ending on June 30 versus LSEG estimates:
- Revenue: 572.3 billion Japanese yen ($3.8 billion), up 132% year-over-year and above the 474.84 billion yen expected.
- Operating profit: 56.9 billion yen, versus 53.46 billion yen expected.
Sales from Nintendo’s dedicated video game platform business grew 142.5% year-on-year to 555.5 billion yen, driven primarily by a higher price point for the Switch 2, compared with that of its predecessor, according to the company.
Sales within Nintendo’s intellectual property-related business — which includes movies and entertainment based on the company’s original games — meanwhile declined 4.4% due to a decrease in revenue from “The Super Mario Bros. Movie.”
Despite the bumper quarterly performance, Nintendo maintained its revenue and operating profit guidance for the fiscal year ending March 2026 unchanged at 1.9 trillion yen and 320 billion yen, respectively.
Nintendo shares have rallied roughly 40% so far this year on the back of excitement about the tech giant’s new Switch 2 hybrid console.
The device, which launched on June 5, sold more than 3.5 million units in its first four days and Nintendo expects it will hit 15 million unit sales in the current fiscal year.
Nintendo on Friday kept its annual sales forecast for the Switch 2 unchanged at 15 million units. Analysts, however, say this target is conservative, and that the company will likely exceed that number.
One factor that could dent Nintendo’s financial prospects is an expected hit from U.S. tariffs. However, analysts at Morningstar believe Nintendo will weather the storm by increasing its overall gaming audience.”
“Although Nintendo’s profitability is expected to decline in the short term due to higher tariff rates, the company will recoup the losses in the long term by selling more games to a larger user base,” said Kazunori Ito, director of equity research at Morningstar.
For its part, Nintendo said Friday that, “While there have been changes in the market environment since we announced our initial forecast for the fiscal year, such as the U.S. tariff measures, at this time there is no significant impact on our earnings forecast for this fiscal year.”