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Nintendo Beat December-Quarter Expectations and Raised Its Switch Forecast to 15.5 Million

Nintendo lifted its full-year Switch hardware forecast to 15.5 million units in February 2024, while nine-month sales stood at 13.74 million.
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Nintendo raised its forecast for Switch hardware sales in the fiscal year ending March 31, 2024, from 15 million to 15.5 million units. That was a forecast, not a result: in the nine months ended December 31, 2023, Nintendo had sold 13.74 million Switch systems, down 7.8% year over year. GamesBeat reported that Nintendo’s December-quarter results beat expectations; Nintendo’s own release provides the underlying company results and unit sales.

What Nintendo reported for the nine months ended December 31, 2023

Nintendo’s February 6, 2024 results release covered the first nine months of its fiscal year, not just the December quarter. Across that period, its reported financial measures were higher than in the comparable prior-year period.

Measure Nine months ended Dec. 31, 2023 Change year over year
Net sales ¥1,394,796 million +7.7%
Operating profit ¥464,410 million +13.1%
Ordinary profit ¥567,357 million +17.6%
Profit attributable to owners of the parent ¥408,041 million +17.9%

Source for the figures and year-over-year changes: Nintendo Co., Ltd., Consolidated Results for the Nine Months Ended December 31, 2023. Nintendo states that the percentages compare with the previous fiscal year.

Why the Switch forecast went up

The raised target reflected Nintendo’s view of full-year hardware sales after a period in which the console continued to sell steadily despite being in its seventh year. For the nine-month period, Nintendo reported 13.74 million Switch hardware units sold, down 7.8% year over year, and 163.95 million software units, down 4.7%. The 15.5 million target covered the entire fiscal year ending March 31, 2024, so it should not be confused with those nine-month actual sales.

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Nintendo’s February 6 forecast notice documents the revision to its full-year financial forecast; GamesBeat reported that the previous Switch hardware forecast was 15 million units. The updated 15.5 million figure was guidance, not a claim that Nintendo had already sold that many systems. Nintendo’s notice of full-year financial forecast and dividend forecast modifications.

Nintendo characterized hardware sales as steady and reported the unit totals in its results release: “Sales of Nintendo Switch continued to be steady in the seventh year since its launch, with hardware sales totaling 13.74 million units (a decrease of 7.8% year-on-year) and software sales totaling 163.95 million units (a decrease of 4.7% year-on-year).” This is Nintendo’s corporate statement, not a quotation attributed to an individual executive.

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How the December-quarter expectations comparison fits

GamesBeat’s contemporaneous report said Nintendo beat expectations for the December quarter and compared quarterly net sales with an analyst expectation. That consensus comparison is GamesBeat’s reporting, not a figure established in Nintendo’s nine-month release. The periods also differ: a December-quarter comparison concerns one quarter, while Nintendo’s reported financial and unit-sales totals above cover the nine months ended December 31, 2023.

GamesBeat also reported the move in Switch hardware guidance from 15 million to 15.5 million units. Read together, the reports describe stronger-than-expected quarterly performance alongside a modestly higher full-year hardware target, even though nine-month hardware sales remained below the prior-year pace.

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Games that supported the Switch platform

Nintendo’s release pointed to several major titles during the nine-month period. Super Mario Bros. Wonder sold 11.96 million copies, The Legend of Zelda: Tears of the Kingdom sold 20.28 million, and Pikmin 4 sold 3.33 million. Nintendo also said the Super Mario Bros. Movie positively affected sales of Mario-related titles. Mario Kart 8 Deluxe sold 6.79 million copies in the period and reached cumulative sales of 60.58 million.

Digital sales were ¥346.4 billion, up 11.7% year over year. Nintendo attributed the growth to downloadable packaged software, add-on content, Nintendo Switch Online-related sales, and yen depreciation. That is the company’s explanation for the increase, rather than an independently established breakdown of each factor’s contribution.

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The 15.5 million forecast is historical

The 15.5 million figure was Nintendo’s forecast for the fiscal year that ended March 31, 2024; it is not current guidance. Nintendo’s Investor Relations page, accessed October 8, 2026, pointed to fiscal-year-ending-March-2027 results and listed a six-month earnings release for November 5, 2026. For current financial information, use Nintendo’s Investor Relations page.

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