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Nintendo Q1 net profit soars 52%

AFP . Tokyo
03 Aug 2023 14:09:57 | Update: 03 Aug 2023 14:09:57
Nintendo Q1 net profit soars 52%
This photo taken on May 8, 2023 shows the logo for Japanese gaming giant Nintendo at the company's official store in Tokyo's Shibuya district — AFP Photo

Nintendo reported on Thursday a 52 per cent jump in first-quarter net profits thanks to brisk sales of its latest "Zelda" game and the release of "The Super Mario Bros. Movie."

Recording a net income of 181 billion yen ($1.26 billion), the Japanese gaming giant left its net profit forecast for the full year to March 2024 unchanged at 340 billion yen. 

"The Legend of Zelda: Tears of the Kingdom" had a "good start" after its release in May, recording sales of 18.51 million units, Nintendo said in a statement.

"The April release of 'The Super Mario Bros. Movie' positively impacted sales of 'Mario' related titles, with 'Mario Kart 8 Deluxe' recording sales of 1.67 million units (for cumulative sales of 55.46 million units)," it added.

"The Super Mario Bros. Movie" was the year's first film to pass the global $1 billion mark at the box office.

Hardware unit sales increased 13.9 per cent year on year to 3.91 million units, and software unit sales increased 26.1 per cent to 52.21 million units.

Its results were also buoyed by a weaker yen, Nintendo said.

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