Nintendo Profits Leap Over 400 Percent Amid Pandemic Gaming Boost
Written by SOURCE on August 6, 2020
Thanks in large part to the home-centered existences many have faced for a large chunk of 2020, social distancing-boosted companies like Nintendo are seeing palpable profits.
In fact, per CNBC, Nintendo’s operating profits jumped 428 percent in the fiscal first quarter. All told, the longtime provider of classic gaming experiences reported an operating profit of $1.4 billion during the quarter spanning from April to June, a figure which notably surpasses what had been projected by many analysts. Furthermore, that haul—when compared to the same quarter from a year ago—shows just how intense this boom has been.
Elsewhere, Nintendo saw net sales of 358.1 billion yen (roughly 3.4 billion USD) during the April-June measuring period, marking a 108 percent jump when compared to the same quarter last year. Specific items helping drive these impressive gains include Animal Crossing: New Horizons, which has now moved an estimated 22.4 million copies, as well as the Switch and Switch Lite devices. The consoles saw a leap of an estimated 167 percent in sales during the quarter in question.
Notably, 2020 also marks the 35th anniversary of Nintendo’s still-in-progress Super Mario franchise. In addition to planned anniversary-celebrating events, fans were treated with official word and a trailer rollout regarding the Switch entry Paper Mario: The Origami King, which arrived back in July.
For the more nostalgia-driven variety of fan, look no further than this month’s launch of LEGO’s 2600-piece replica NES set. While some collectors balked at the cost, the anniversary-honoring collab stands among the many high marks the Nintendo team has bagged this year among unusual circumstances.
