Nintendo profits up 33% to $2.37 billion as Switch sales surge

Strong hardware and software sales skyrocket Nintendo's FY2020 earnings.

@DeekeTweak
Published Sun, May 10 2020 2:07 PM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Nintendo's recent fiscal year earnings jump across the board thanks to massive software sales surge.

Nintendo profits up 33% to .37 billion as Switch sales surge 2020 | TweakTown.com
VIEW GALLERY - 5 IMAGES

Nintendo just released its FY2020 earnings report, and the results are stellar. The company generated over $12 billion in net revenues during the year, 95% of which was from its gaming branch. Operating income spiked by a staggering 41% thanks to strong game and hardware sales, and profit likewise leaped by 33% year-over-year to a high $2.37 billion.

Nintendo FY2020 Earnings

  • Net Revenues - $12.01 billion (¥1.308 trillion), up 9% YoY
  • Operating Income - $3.23 billion (¥352.3 billion), up 41.1%
  • Profit - $2.37 billion (¥258.6 billion), up 33.3% YoY
Nintendo profits up 33% to $2.37 billion as Switch sales surge 33 | TweakTown.com

Throughout the year, Nintendo sold 21.03 million Switch consoles. The Switch Lite, which was introduced smack-dab in the middle of the fiscal year, made up nearly 30% of total console sales by moving 6.19 million units in its first six months on the market.

Nintendo Switch hardware sales made up 52.2% of the company's FY2020 gaming earnings, or $5.87 billion. Total cumulative Switch platform hardware sales now sit at 55.77 million worldwide since its 2017 launch.

To date, the Switch is the seventh best-selling Nintendo console of all time.

Nintendo profits up 33% to $2.37 billion as Switch sales surge 32 | TweakTown.com

Software was also up by a near-astronomical level, pushing past the previous year's mega performance with Super Smash Bros. Ultimate.

Software is up 44% from last year to 168.72 million sales, driven strongly by the one-two first-party punch of Pokemon: Sword and Shield and Animal Crossing: New Horizons, both of which also pushed new hardware adoption rates.

Animal Crossing alone sold 11 million copies in just 11 days, making up nearly 7% of all Switch game sales for the entire year, and currently outperforms some games that've been on the market for 140 weeks.

Nintendo profits up 33% to $2.37 billion as Switch sales surge 34 | TweakTown.com

R&D costs, which includes development of new first-party games as well as hardware experimental designs and development, jumped a hefty 20% YoY to to $782 million (¥84.1 billion). This is likely due to game dev costs as well as Switch Lite development, but it could indicate Nintendo is brewing up the rumored Switch+ model.

For Fiscal Year 2021 (now until March 31, 2021), Nintendo expects all metrics to drop. This could be a conservative estimated due to COVID-19 impacts, or it could telegraph what to expect from Switch releases this year. The rumored Super Mario remasters could be the only big string of first-party games coming to the Switch this year.

Nintendo profits up 33% to $2.37 billion as Switch sales surge 2021 | TweakTown.com
Buy at Amazon

Nintendo Switch Lite - Yellow (HDHSYAZAA)

TodayYesterday7 days ago30 days ago
$199.99$199.00$199.99
* Prices last scanned on 9/29/2020 at 12:15 am CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:nintendo.co.jp

Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

Related Tags

Newsletter Subscription

Latest News

View More News

Latest Reviews

View More Reviews

Latest Articles

View More Articles