Thanks to the hugely successful launch of its new hybrid gaming console Switch, Nintendo’s operating profit increased more than six-fold in the fiscal year ending March 31. The Japanese company reported its latest results last Friday, beating expectations across the board. Revenue for the 12 months ending March 31 more than doubled to $9.5 billion as operating profit jumped to $1.6 billion. Nintendo also gave a bullish forecast for the current fiscal year, predicting another 25 percent increase in profit.
As of March 31, Nintendo had already sold 17.8 million Switch units and the company expects to sell another 20 million by March 2019. In reaching that goal, the Switch would have beaten several of its predecessors just two years into its lifetime – a feat that the Wii U didn’t manage in five years on the market. Nintendo moved just 13.56 million units of the unbeloved Wii U before it was discontinued in late 2016.
Despite the current hype surrounding Nintendo and its new hit console, it remains to be seen whether the company can climb back to previous heights. As our chart illustrates, the estimated operating profit for this year is still way lower than the peak profit during the Wii era.
