Nintendo reports 46% drop in operating profit in the past nine months, with hardware and software sales being “below expectations” 

Nintendo has published its earnings report for the first three quarters of the fiscal year ending March 31, 2025. During the nine-month period between April and December 2024, the company saw a significant year-on-year decrease in sales and profits, which is largely due to the previous financial year being marked by major releases like The Legend of Zelda: Tears of the Kingdom and Super Mario Bros Wonder. 

Nintendo’s financial results for the first nine months of the fiscal year are as follows: 

Net sales: 956,218 million yen (down 31.4% year-on-year) 
Operating profit: 247,597 million yen (down 46.7% year-on-year) 
Ordinary profit: 327,117 million yen (down 42.3% year-on-year) 
Net profit: 237,189 million yen (down 41.9% year-on-year) 

Despite these decreases compared to the same period last year, Nintendo reports that both its new releases and catalogue titles performed steadily during the past three quarters. The Legend of Zelda: Echoes of Wisdom has sold 3.91 million copies since its September release, and October’s Super Mario Party Jamboree has sold 6.17 million copies so far.  

Overall, hardware sales totaled 9.54 million units (a decrease of 30.6% year-on-year), and software sales totaled 123.98 million units (a decrease of 24.4% year-on-year), which Nintendo described as “below expectations.” As a result, the company has announced a revision of its forecast for the full year.