Investors are waiting for news surrounding a successor to the Switch which they hope will re-energize Nintendo's gaming business.

TOKYO: Nintendo cut its operating profit forecast for the year to March 2025 by 10 per cent to ¥360 billion (US$2.36 billion) on Tuesday (Nov 5), as sales of its ageing Switch console lost steam. The forecast is below analyst estimates for profit of ¥391.4 billion. The Kyoto-based gaming compan

Nintendo cuts profit forecast by 10% due to declining Switch sales, plans to announce successor console.

Nintendo downgraded its annual sales forecast on Tuesday as net profit plunged 60 percent year-on-year in the first half, with fans awaiting the announcement of a new console. In the April-September period, Nintendo logged net profit of 108.7 billion yen ($710 million), down 60 percent from the same period a year earlier.

Nintendo downgraded its annual sales forecast on Tuesday as net profit plunged 60 percent year-on-year in the first half, with fans awaiting the announcement of a new console. In the April-September period, Nintendo logged net profit of 108.7 billion yen ($710 million), down 60 percent from the same period a year earlier.

Nintendo posted a still-impressive $714.2 million in net profit from April through September, though it missed analysts' expectations of around $885 million for the six-month period.

TOKYO (AP) — Nintendo, the Japanese video game maker behind the Super Mario franchise, said Tuesday that its profit fell 60% in the first half of the fiscal year, as demand waned for its Switch console, now in its eighth year since going on sale.Kyoto-based Nintendo Co. reported a 108.7 billion yen ($715 million) profit for the April-September period, as sales slipped 34% from the previous year to 523 billion yen ($3.4 billion).More than 74% of its sales revenue came from overseas, according to Nintendo, which didn’t break down quarterly numbers.Global Switch sales during the period dropped to 4.7 million machines from 6.8 million units the previous year.But Nintendo said in a statement that Switch sales were still growing and vowed to stick to its goal of selling a Switch console to each and every individual, not just one Switch per every household. Nintendo stuck to its earlier projection for a 300 billion yen ($2 billion) profit for the full fiscal year through March 2025, down nearly 29% from the previous…

Nintendo cut its annual forecasts for Switch sales, reflecting declining demand for the Japanese videogame maker’s once-hit console.

Nintendo said sales for the 1st half of 2024 fell 34.1% to $3.43 billion as it saw a slowdown in sales for Nintendo Switch hardware and games.