Zinger Key Points
- Nintendo's Q3 revenue fell to 432.92B yen as Switch sales dropped 30.6% year-over-year, prompting a lower annual sales forecast.
- Nintendo cut its fiscal 2025 outlook, slashing Switch and software sales estimates while reducing its annual dividend forecast.
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Nintendo Co NTDOY reported third-quarter revenue of $1.10 billion (432.92 billion Japanese yen), down from $1.70 billion (598.56 billion Japanese yen) a year ago.
EPS of 110.40 Japanese yen compared to 117.45 Japanese yen a year ago.
Nintendo sold 4.82 million Nintendo Switch hardware in the third quarter, bringing the total for the current fiscal year to 9.54 million units (down by 30.6% Y/Y).
Also Read: Sony Eyes Portable Gaming Market With New Handheld Console In Development
The company expects to sell 11.00 million units of Nintendo Switch hardware in fiscal 2025, down from 12.50 million units it previously expected. It expects to sell 150 million units of Nintendo Switch software in fiscal 2025, down from 160 million units it previously expected.
The company expects fiscal 2025 net sales of 1.19 trillion Japanese yen (prior 1.28 trillion Japanese yen) and EPS of 231.91 Japanese yen (prior 257.68 Japanese yen).
Nintendo reduced the annual dividend forecast to 116 Japanese yen per share from 129 Japanese yen per share.
In January, Nintendo shared plans to showcase the new console at Nintendo Switch, which will start in April. However, the company also flagged that Nintendo Switch games may not be supported or fully compatible with the Switch 2. Nintendo Switch has sold over 125 million units since its 2017 debut.
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