GIVEAWAY: TEAMGROUP T-Force VULCAN Z SATA III SLC 2TB SSD, two up for grabs!

Nintendo delivers $2.41 billion net sales and $771 million net profit in Q2'23

Nintendo delivered a strong quarter with its Q2'23 results achieving $2.41 billion in net sales, driven primarily by software across the digital space.

Nintendo delivers $2.41 billion net sales and $771 million net profit in Q2'23
Published Nov 11, 2022 9:32 AM CST   |   Updated Wed, Dec 7 2022 9:20 PM CST
1 minute & 23 seconds read time

Nintendo delivers solid Q2 performance with strong software sales offsetting drops in hardware sales and revenues.

Nintendo delivers $2.41 billion net sales and $771 million net profit in Q2'23 77

Nintendo recently reported its Q2 Fiscal Year 2023 results and the numbers are quite impressive, especially as the yen depreciates against the dollar. Using data published by Nintendo, we have converted earnings into USD based on the exchange rates included in the company's quarterly earnings reports.

Nintendo delivers $2.41 billion net sales and $771 million net profit in Q2'23 72

Read Also Nintendo Switch hits 114.3 million shipments, will beat PS4 by end of 2022

Based on our findings, Nintendo delivered $2.416 billion in total net sales during the Q2'23 period, down 10.5% year-over-year. Main drivers for sustainable quarterly sales are driven primarily by software, with Nintendo recognizing a boost from digital add-on content and Switch Online subscriptions during the period. Splatoon 3, Mario Kart 8 Deluxe, and Kirby and the Forgotten Land selling well during the quarter.

Nintendo Q2 FY23 Results

  • Net Sales - $2.416 billion, down 10.5% YoY
  • Operating Profit - $821.11 million, down 8.5% YoY
  • Net Profit - $770.81 million, up 8.9% YoY
  • Dedicated Gaming - $2.321 billion, down 10.1% YoY

Consistent software sales helped offset a reduction in hardware revenues primarily due to weaker yen rates. Nintendo notes that hardware sell-through, that is consoles and hardware sold to consumers, was relatively even year-over-year. Sell-in of Switch hardware, that is shipments made to retailers, was down by half a million systems to 3.25 million in Q2'23 as compared with 3.83 million from Q2'22.

Nintendo delivers $2.41 billion net sales and $771 million net profit in Q2'23 112

As a result, operating profit was $821.11 million, down 8.5% year-over-year. Net profits were $770.81 million during the quarter, up nearly 9% over last year

Nintendo delivers $2.41 billion net sales and $771 million net profit in Q2'23 92

We can see that Nintendo is currently weathering the lower yen rates exceedingly well, and its video games business remains very healthy.

Buy at Amazon

Pokemon Scarlet - Nintendo Switch

TodayYesterday7 days ago30 days ago
$59.80$59.57$59.88
* Prices last scanned on 12/7/2022 at 2:15 pm CST - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:nintendo.co.jp

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. 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.

Newsletter Subscription

    Related Tags

    Newsletter Subscription
    Latest News
    View More News
    Latest Reviews
    View More Reviews
    Latest Articles
    View More Articles