A traveler walks past an advertisement featuring a Nintendo character at Narita airport in Narita near Tokyo on June 10, 2022. Nintendo has reported healthy sales and profits on the back of the hit “Super Mario Bros. Wonder” game, prompting the Japanese video game maker to raise its full fiscal year forecasts. (AP Photo/Shuji Kajiyama, File)TOKYO (AP) — Nintendo reported healthy sales and profits on the back of the hit “Super Mario Bros. Wonder” game, prompting the Japanese video game maker to raise its full fiscal year forecasts.
Kyoto-based Nintendo Co. said Tuesday that demand for what it called the first completely new Super Mario game in the series remained strong. Sales of the new Zelda game and “Pikmin 4” also surged.
More than 10.7 million units of the latest Super Mario game have been sold around the world since it went on sale in October, according to Nintendo.
It is banking on upcoming games like “Mario Vs. Donkey Kong” and “Princess Peach Showtime” to keep the sales momentum going.
The weak yen also helped Nintendo’s bottom line by boosting the value of its overseas revenue when converted into yen. The U.S. dollar has been trading at about 148 Japanese yen, up from 140 yen a year ago.
For the first nine months of the fiscal year, Nintendo earned 408 billion yen ($2.7 billion), up nearly 18% from 346 billion yen in the same period the year before. Nine-month sales rose 8% to 1.39 trillion yen ($9.4 billion).
Nintendo, which did not break down quarterly numbers, expects a full year profit of 440 billion yen ($3 billion), up from an earlier projection for a 420 billion yen ($2.8 billion) profit. Nintendo recorded nearly 433 billion yen in profit a year earlier.
Nintendo said theme parks like its offerings at Universal Studios in Japan are vital for keeping people informed about and interested in its franchise. The Super Nintendo World park is set to open next year in Florida.
___
Yuri Kageyama is on X: https://twitter.com/yurikageyama
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for June 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
