Nintendo’s first quarter financials are down, sticking to its forecasts
This financial report was always going to be a quiet one, Nintendo didn’t release much, Pokemon Go wouldn’t even count if it was in this quarter and there’s still no news on the NX. Boring.
But you’re here for the numbers.
This report covers Nintendo’s first quarter their financial year, from April 1st 2016 to the 30th of June 2016. The bad news first, Nintendo reported a net income loss of 24,534 million Yen ($310 million AUD), net sales down too with 61,969 million Yen ($785 million AUD) worth taking place, this is down a huge 31.3% compared to the year before.
It doesn’t stop there, Wii U sales bottomed out with just 220,000 units sold in the last three months. Nintendo did blame some of the losses on the exchange rate, with 72% of their sales overseas you can see why. What about amiibo? Well the market on that has bottomed out as well with sales of the figures (and cards) down 60% compared to the year before. Ouch.
So where’s the good news in all this?
People are still buying the Nintendo 3DS, games for it and for the Wii U. Hardware sales of the 3DS were only down 7% (it’s something) but games for the system were up 7% and Wii U software had a 3% increase.
If you’re wondering where Pokémon Go is in all this, well it wasn’t out in the period and even when we get to the period with it – there will be little effect. The Pokemon Company and Niantic will be pocketing the cash here, Nintendo benefit from it – just not on paper.
There’s hope on the horizon, with the NX on the way, Pokémon Sun and Moon and Mario Party Star Rush highlighted by the company as reasons to stick with them. Animal Crossing and Fire Emblem mobile will also help Nintendo to stick to their projections which remain unchanged.