Nintendo reports stellar June quarter but no mention of a new Switch

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Nintendo saw a big boost in revenue and operating profit in the first fiscal quarter ended June 30 thanks to the success of The Super Mario Bros. Movie and the popularity of The Legend of Zelda: Tears of the Kingdom.

Tears of the Kingdom sold more than 18 million units after its launch in May through June 30, a tremendous result for the highly rated game on the Nintendo Switch. Tears of the Kingdom debuted on May 12 and it became the fastest-selling title in the history of the series.

Revenues hit $3.2 billion (461.3 billion yen) in the first fiscal quarter, compared to 395.4 billion yen expected and up 50% from a year ago. Net profit was $1.26 billion (181.02 billion yen), compared to 109.9 billion yen expected and up 52% from a year ago.

Operating profit was 185.44 billion yen, up 82.4% year-on-year. Nintendo also saw a boost from The Super Mario Bros. Movie, produced by Universal Studios. The film has generated more than $1 billion at the box office since April.

Nintendo previously said its forecast for the fiscal year ending March 31, 2024, would be 1.45 trillion yen in revenue and 340 billion yen of profit. Nintendo also said it would sell 15 million Switch hardware units this fiscal year, compared to 1 million in the previous year.

In the June quarter itself, Nintendo sold 3.91 million Switch consoles, up 13.9%. That healthy bump might take pressure off Nintendo to launch a new console, as is rumored. The Switch is now six years old, and analysts are expecting a new console sometime in the next fiscal year or two.

For hardware, Nintendo said that it is trying to reach every home and person. Another