Nintendo Fiscal Year 2024: $11.6 billion revenue, $3.5 billion in profit, 30% margin

Nintendo made $11.6 billion in revenue and $3.5 billion profit throughout Fiscal Year 2024, which is the 8th year the Switch has been on the market.

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Nintendo has published solid earnings results as the Switch enters its eighth year on the market.

Nintendo Fiscal Year 2024: $11.6 billion revenue, $3.5 billion in profit, 30% margin 11

Nintendo's Fiscal Year 2024 shows two clear trends: Switch sales are slowing down, but gamers are still voraciously consuming software and content for the aging system. A quick note before we delve into the financials - These values are based on yen to USD conversion rates listed in Nintendo's quarterly reports, which assumes the following rates: Q1 - 144.56, Q2 - 149.37, Q3 - 141.04, Q4 - 151.

Throughout FY24, which ran from April 2023 - March 2024, Nintendo generated a total of $11.6 billion in net sales revenue, down -2% year-over-year. This is due to a more pronounced drop in Switch hardware sales (15.7 million shipments, down -12.6%), and a smaller decrease in software purchases (down 6.7%).

Nintendo Fiscal Year 2024: $11.6 billion revenue, $3.5 billion in profit, 30% margin 35

Operating profit was actually up 2.36% to $3.812 billion, representing a strong 33% operating margin.

Nintendo's total profits for FY24 were also up 10.5% to $3.514 billion, also representing a strong 30% profit margin.

Nintendo Fiscal Year 2024: $11.6 billion revenue, $3.5 billion in profit, 30% margin 26
Nintendo Fiscal Year 2024: $11.6 billion revenue, $3.5 billion in profit, 30% margin 27Nintendo Fiscal Year 2024: $11.6 billion revenue, $3.5 billion in profit, 30% margin 28

For Fiscal Year 2025, the company expects to make 1.35 trillion yen in net sales with a 1USD = 140 yen exchange rate. This would equate to roughly $9.6 billion in net sales, which is a significant reduction of -$2 billion or about 17%. Hardware sales are also expected to be down by over 2 million units to 13.5 million.

Note that this forecast is only for the current hardware-software cycle and only includes the Switch family. Nintendo is expected to release a new Switch model, but that may happen after FY25.

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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.

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