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Nintendo Reports Profits After Years of Loss, Outperforms Estimates
After flowing through hot waters for a couple of years, Nintendo is finally making some money – kudos folks!
Recently, the Kyoto based company reported their year end financials and surprisingly, they have beaten all industry estimates for the last quarter.
Where they were expected to report a net loss of 19.18 billion yen ($159.67 million) for the fourth quarter, they have instead managed to pull off a net income of 17.6 billion yen.
Talking about the full year, they have reported 549.78 billion yen in revenue and 41.8 billion yen in net income. This net income is slightly higher than the estimates by analysts (40.82 billion yen) and in stark contrast with last year’s net loss of 23.22 billion yen.
As far as the software sales for the 3DS are concerned, the company has reported that “Pokémon Omega Ruby/Pokémon Alpha Sapphire and Super Smash Bros. for Nintendo 3DS enjoyed robust sales with 9.94 million units and 6.75 million units sold respectively.”
While Tomodachi Life, Mario Kart 7, and The Legend of Zelda: Majora’s Mask 3D all sold over two million units each. Globally, the sales for 3DS software were as high as 62.74 million units.
Moving on to Wii U, they have reported that while the hardware sales were at 3.38 million units, software sold for the console reached 24.4 million units. Specifically, Mario Kart 8 and Super Smash Bros. for Wii U managed to sell 5.11 million units and 3.65 million units respectively.
Oh and in the coming year Nintendo is expecting the smartphone market to further boost their earnings saying that “a new source of revenue is expected from a gaming application for smart devices which will be released this year.”
I guess many of their fans are going to breathe easy now.