During the early hours of today, Nintendo shared its financial results related to the first quarter of the current fiscal year, that is, between April and June 2024. While there are positive points, many have questioned the Big N’s sales expectations, which has caused the company’s shares to fall in the last few hours.
In its quarterly report, Nintendo reported that the Switch sold just over two million units, which represents a 46.3% drop compared to last year. This has put into question expectations of 13 million consoles sold for the fiscal year. The market did not react positively, causing the company’s shares to fall by 2.4% at the start of the day.
This was not all, since on the Japanese stock market, Nintendo shares ended the day down 8.45%, which represents a low point for the Big N that not many expected. However, this is something natural. Let’s remember that the Switch is in its final stages, so this performance was to be expected.
Along with this, we must not forget that last year we saw the launch of The Legend of Zelda: Tears of the Kingdom during this quarter, which represented a substantial increase in console sales. Unfortunately, this time we did not see such an important premiere.
Luckily, the rest of the fiscal year looks more interesting, as we will have releases such as Mario & Luigi Brotherhoodas well as Metroid Prime 4: Beyond, titles that could boost Switch salesIt will be interesting to see how Nintendo performs in the rest of the fiscal year. In related news, Nintendo is celebrating the anniversary of the Game Boy. Likewise, a new season of eShop sales is coming.
Author’s Note:
This is a very normal thing for the market. As soon as investors see something out of the ordinary, they get worried and the shares of some company fall, but everything returns to normal shortly after, as long as there is a guarantee of success.
Via: Nintendo fans
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