Home Industry Gaming and vfx Super Mario movie and Zelda ga...
Gaming And Vfx
CIO Bulletin
03 August, 2023
Nintendo’s operating profit and revenue surged for the June 2023 quarter, driven by the success of the “Super Mario Bros. Movie” and the latest Zelda game.
Nintendo’s revenue increased by 50% in 2022, while net profit jumped by 52%. Operating profit clocked in at 185.44 billion yen, surpassing expectations and jumping 82.4% year-on-year.
Since its April release, “The Super Mario Bros. Movie,” produced by Universal Studios and based on the company’s best-known characters, has generated over $1 billion at the box office, driving Nintendo’s revenue.
The Japanese gaming goliath, Nintendo, also released the eagerly anticipated game “The Legend of Zelda: Tears of the Kingdom” in May 2023. Nintendo later reported that it was the fastest selling title in the series’ history.
In an earnings release, Nintendo said that in the first quarter of the fiscal year 2023, both sales and profits were notably large for a first quarter, mainly due to the concurrent releases of ‘The Legend of Zelda: Tears of the Kingdom’ and ‘The Super Mario Bros. Movie’, and the firm made consistent progress towards its full-year earnings forecast.
For the current fiscal year, which ends in March 2024, Nintendo had previously predicted that its revenue would be 1.45 trillion yen and its profit would be 340 billion yen.
Additionally, Nintendo previously predicted that its flagship Switch game console series would sell 15 million units during the current fiscal year, which ends in March 2024. Contrast that with the slightly less than 18 million units sold in the prior fiscal year.