On Tuesday, Nintendo (NTDOY -0.33%) unveiled its results for the nine months ended Dec. 31.
For the period, the veteran video game hardware and software company earned just over 1.4 trillion yen ($13.4 billion). That robust 37% increase on a year-over-year basis fulfills the company's sales target for the full fiscal year. Nintendo's operating profit nearly doubled over that stretch, to 521 billion yen ($5 billion).
Nearly all of that revenue came from sales of Switch hardware and games. The console, a home/portable hybrid, continues to be a top seller despite its age (it was introduced nearly four years ago). In its update, the Japanese company said that nearly 80 million Switches have been shipped around the world.
Image source: Getty Images.
With the new total, Switch has now eclipsed the figure for the 3DS, a handheld console that became wildly popular after its release in 2011. Switch currently stands at No. 5 of all time for Nintendo, behind successes like champion Nintendo DS' 154 million and the original Game Boy's nearly 119 million.
Shipments of Switch games now stand at over 532 million, putting the console at No. 3 behind titles for the Nintendo DS, at almost 949 million, and the nearly 922 million of the Wii.
With this performance, Nintendo raised its full-year revenue forecast. It now believes it will earn 1.6 trillion yen ($15.3 billion) on the top line while netting a profit of 560 billion yen ($5.3 billion).
The company has certainly been helped by the coronavirus pandemic, which has kept people at home and hungry for entertainment, but a steady lineup of well-received new game titles is also boosting its results. This should continue for the immediate future.
