Nintendo Annual Report: Revenues increased, console sales dropped, new Switch to be unveiled by the end of March 2025

Nintendo has published its financial report for the 2024 fiscal year, which ended on March 31, 2024. Here are the key highlights from the report.

The Legend of Zelda: Tears of the Kingdom

• The company reported annual net sales of ¥1.67 trillion ($10.8 billion), an increase of 4.4% compared to the previous year.
• Nintendo’s net profit for the year increased by 13.4% to ¥490.6 billion ($3.18 billion).
• 78.3% of Nintendo's revenue was generated outside of Japan. The majority came from the Americas, accounting for 44.3%, while Europe accounted for 24.3% of the revenue.

How Nintendo's revenue was distributed by region

• Over the year, Nintendo sold 15.7 million Nintendo Switch consoles, a decrease of 12.6% from the previous year. The OLED model remained the top-selling version, with sales up by 1.1% to 9.32 million units.
• To date, the company has sold a total of 141.32 million Nintendo Switch units.
• The number of game copies sold over the year totaled 199.67 million, a decline of 6.7%. Among the most successful new titles were The Legend of Zelda: Tears of the Kingdom (20.61 million copies), Super Mario Bros. Wonder (13.44 million copies), and Pikmin 4 (3.48 million copies).
• The report also mentions that by March 31, 2024, Princess Peach: Showtime! had sold 1.22 million copies, and the remake of Mario vs. Donkey Kong sold 1.12 million copies.
• The audience for games on the Nintendo Switch has grown to a record 123 million people, up from 116 million last year.
• For the next year, Nintendo anticipates a decline in all key metrics. It forecasts a 19.3% decrease in net sales, a 38.9% decrease in net profit, a 14% decrease in Nintendo Switch sales (in units), and a 17.4% decrease in game sales (in copies).

Projected changes in net sales, operating profit, ordinary profit, and net profit

• Separately, Nintendo President Shuntaro Furukawa announced that the company is preparing to announce a new console. It will be unveiled within the current fiscal year, which will conclude on March 31, 2025.

Top 10 Best-Selling Nintendo Switch Games as of March 31, 2024

1. Mario Kart 8 Deluxe — 61.97 million copies.
2. Animal Crossing: New Horizons — 45.36 million copies.
3. Super Smash Bros. Ultimate — 34.22 million copies.
4. The Legend of Zelda: Breath of the Wild — 31.85 million copies.
5. Super Mario Odyssey — 27.96 million copies.
6. Pokémon Sword & Shield — 26.27 million copies.
7. Pokémon Scarlet & Pokémon Violet — 24.92 million copies.
8. Super Mario Party — 20.66 million copies.
9. The Legend of Zelda: Tears of the Kingdom — 20.61 million copies.
10. New Super Mario Bros. U Deluxe — 17.45 million copies.