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# Nintendo’s Impressive First Quarter: Record Sales and Profits
Nintendo has recently experienced a highly successful first quarter, thanks to the launch of two major products: *The Legend of Zelda: Tears of the Kingdom* and the *Super Mario Bros. Movie*. In its earnings release, the company proudly announced that both sales and profits were notably large for a first quarter. This period covers the three months leading up to June 30th.
During this quarter, Nintendo achieved a significant increase in net sales, which reached ¥461.3 billion (approximately $3.2 billion). This represents a remarkable 50 percent rise compared to the previous year. Moreover, their operating profit skyrocketed by 82.4 percent, reaching ¥185.4 billion (around $1.3 billion). Notably, this is the highest first-quarter profit ever recorded by Nintendo, surpassing their previous record set in 2020 after the release of *Animal Crossing: New Horizons* during the first year of the pandemic.
The success of both *The Legend of Zelda: Tears of the Kingdom* and the *Super Mario Bros. Movie* had direct and indirect impacts on these impressive financial results. *Tears of the Kingdom* sold a remarkable 18.51 million units during Nintendo’s first quarter, now ranking as the ninth best-selling Nintendo game for the console. On the other hand, the *Super Mario Bros. Movie* contributed to a staggering 190.1 percent increase in Nintendo’s “mobile and IP related income” compared to the previous year. The film achieved tremendous success, amassing over $1 billion at the global box office. Moreover, the movie also helped boost sales of Nintendo’s existing Mario games.
Although the sales of Nintendo Switch consoles remained higher than the same quarter last year (3.91 million units compared to 3.43 million units), industry experts anticipate that this hardware is approaching the end of its lifecycle. As a result, Nintendo’s release calendar for the upcoming year appears to be considerably sparse. Consequently, the question arises as to when Nintendo will announce the successor to the Switch console. According to recent reports from Video Games Chronicle (VGC), a new console is planned for the second half of 2024, and some of Nintendo’s software partners have already received development hardware for this forthcoming device.
Nintendo’s first-quarter performance undoubtedly showcases their dominance in the gaming industry. With massive sales and profits, largely driven by the success of *The Legend of Zelda: Tears of the Kingdom* and the *Super Mario Bros. Movie*, Nintendo continues to captivate gamers worldwide. However, given the anticipation regarding the end of the Switch’s lifecycle and the potential future console, gaming enthusiasts eagerly await further announcements from Nintendo.
#### Sources:
– Nintendo – [Earnings Release](https://www.nintendo.co.jp/ir/pdf/2023/230803_2e.pdf)
– Bloomberg – [Nintendo Powers to Record Profit after Blockbuster Zelda Debut](https://www.bloomberg.com/news/articles/2023-08-03/nintendo-powers-to-record-profit-after-blockbuster-zelda-debut?in_source=embedded-checkout-banner&sref=ExbtjcSG)
– Nintendo – [Best-Selling Nintendo Games for the Console](https://www.nintendo.co.jp/ir/en/finance/software/index.html)
– Video Games Chronicle (VGC) – [Sources: Nintendo Switch 2 Targets 2024 with Next-Gen Console](https://www.videogameschronicle.com/news/sources-nintendo-switch-2-targets-2024-with-next-gen-console/)
