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GRTV News - Nintendo finances freeze in new earnings report
Despite strong sales in some places, YOY things are looking somewhat stagnant at Nintendo.
Audio transcription
"Hello there, welcome back to another GRTV News, I'm Alex as usual bringing you the afternoons latest and greatest when it comes to gaming, entertainment, technology and a lot more than that. Basically anything we got here, whatever you like, whatever you love, it's always going to be here for you at GRTV News and in the wider Gamereactor network as a whole. So if you like what you see and you want to see more, be sure to check out Gamereactor wherever you get it from for more gaming reviews, gaming previews, movie reviews, series reviews, exclusive content, interviews and of course so, so, so much more. Without further ado, today we're looking at Nintendo, specifically Nintendo's finances and I know finances aren't the most exciting bits of news, sort of like new announcements, but especially with Nintendo as we're looking towards next year and the Switch 2, we are expecting that there's going to be some sort of announcement here. Now Alberto has made this into two pieces, one on a more positive note, one on a maybe less positive note, so we'll start with the bad news first, or not necessarily the bad news, but today Nintendo has released its earnings report for the second quarter of the current fiscal year and this new report covers basically more of what the profits have been, what the downfalls have been, this that and the other. So there's been a bit of a sort of stalling in the Switch hardware sales themselves. As Alberto writes here, it doesn't seem like it's going to be able to beat the PlayStation 2 as being the best selling game of all time, as it's down in sort of it's console sales from year on year to 12.5 million. Now I know that that sounds like a lot, but with Nintendo numbers you can always want for more and especially in modern gaming you can always want for more."
"So there's also estimated 5 million fewer units of software sold, there were 31% fewer consoles sold compared to the same period last year and 27.6 fewer games sold. Operating profit is 56% lower than the same period last year, so you can really see that there's a lot of sort of big blows that Nintendo have been dealt here. So when investors and sort of users look at that they're going to be thinking well you need a boost, you need a kickstart, you need a new console, because the Switch is showing its age and has done for very many years now. If we look over however at a more positive note, is that Nintendo is still selling millions upon millions of games. They have reached 9 titles that have become million sellers in that same period that we were talking about where there's sort of seeming stagnation. So Legend of Zelda, Echoes of Wisdom, Luigi's Mansion 2 HD, to name two that are very new games that have been able to sell millions of copies. Paper Mario and the Thousand Year Door, Mario Kart 8 Deluxe, these games are ones that, well Paper Mario and the Thousand Year Door also came out this year, but Mario Kart 8 Deluxe continues to sell millions upon millions of games. Nintendo Switch Sports, again it's a sort of evergreen title, Animal Crossing New Horizons, all of these games serve to boost Nintendo's sort of status economically. And I do think that the games industry, especially nowadays, focuses a bit too much on constant growth, constant pushing the number up, whereas this sort of seems quite healthy to me even in a company that hasn't exactly made new hardware, well new proper hardware, we're not counting the Switch OLED, for going on you know 8 years now. Which is kind of insane. And this year has been a very slow one for Nintendo releases as well, with not really anything truly standing out like say Tears of the Kingdom did last year. Let me know what you think the future holds for Nintendo, do you think we'll see the Switch 2 soon after these earnings reports, let me know all that and more and I'll see you again soon for some more TLC news, goodbye."
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