Published , by Asif Khan
Published , by Asif Khan
Nintendo is out with earnings results for FY24, and while the company did actually put together a decent 2024, the FY25 guidance paint a painful picture for Princess Peach and the Mushroom Kingdom. Nintendo expects sales to fall 19.3% and earnings to fall 38.9% in FY25.
With the Nintendo Switch successor likely slipping into the next calendar year, the company still expects to sell 13.5 million console units in the upcoming year. This is the eighth trip around the sun for Nintendo's hybrid handheld home console.
Nintendo President Shuntaro Furukawa did take to Twitter to announce that the successor to the Nintendo Switch will be announced within FY25, which ends on March 31, 2025.
Here's a link to the Nintendo's FY24 earnings release.
Looks like the Nintendo Switch console and its already epic library of great games will have to carry fans for another year. FY24 did have some bright spots with Mobile/IP related income growing 81.6% from the prior year driven by the wildly successfuly Super Mario Bros. Movie.
This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.
Full Disclosure:
At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:
Long Nintendo via NTDOY shares