Nintendo scores $5.1 billion net sales and 19% margin through Holiday 2025

Nintendo's latest Q3 Fiscal Year 2026 results give an update on the end-year earnings that the company made throughout the critical Holiday 2025 period.

Nintendo scores $5.1 billion net sales and 19% margin through Holiday 2025
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Senior Gaming Editor
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TL;DR: Nintendo's Q3 2026 holiday sales reached $5.147 billion, marking the fifth-highest since the Switch launch. Despite rising production costs impacting Switch 2 profitability, operating profit rose to $991 million. The Switch is now Nintendo's best-selling console, with Switch 2 shipments surpassing Wii U, targeting 19 million units this fiscal year.

Nintendo scores big over the holidays with net sales exceeding $5.1 billion--middling results for the period.

Nintendo scores $5.1 billion net sales and 19% margin through Holiday 2025 77
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Nintendo's latest Q3'26 earnings deliver somewhat middle-ground holiday results. Throughout the Holiday 2025 period, Nintendo generated over $5.147 billion in net sales, which ranks as the 5th highest holiday net sales since the Switch's debut.

Operating profit was hit by rising costs--SG&A, development, and production costs--leading to $991 million operating profit and a 19.2% margin.

Nintendo scores $5.1 billion net sales and 19% margin through Holiday 2025 32025
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  • Net Sales - $5.147 billion
  • Operating Profit - $991 million
  • Net Profit - $1.021 billion

While operating profit and net profit are both up year-over-year, the results reflect the Switch 2's lower profitability--the newer Switch 2 is more expensive to produce, especially in today's chip-scarce market, which means Nintendo makes less profit every time a Switch 2 is sold versus a base Switch console. Essentially, Switch 2 consoles are more costly to produce and make less profit per sale than the previous generation.

For the full Fiscal Year 2026 timeline, Nintendo is confident it will meet its ambitious 2.25 trillion yen net sales goal, which represents around $15 billion. Interestingly enough, this wouldn't even be the net sales record, as the high point for Nintendo was when it delivered $16.5 billion in net sales during the COVID-19 lockdowns back in FY21.

Nintendo scores $5.1 billion net sales and 19% margin through Holiday 2025 312
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In other news, the Switch is now officially the best-selling Nintendo console of all time, and the Switch 2 has already beaten the Wii U with 17.37 million worldwide shipments.

Nintendo expects to ship 19 million Switch 2 consoles this fiscal year, and thanks to the substantial +7 million console sales jump made throughout Holiday 2025, Nintendo is already 91% of the way there.