Revenue at the house that Mario built have surged 150% for Q1 earnings.
- Revenue of 154.07 billion yen ($1.37 billion) versus expectations of 136.53 billion yen.
- Operating profit of 16.21 billion yen versus analyst forecasts of 9.52 billion yen.
Nintendo Switch sold through 4.71 million units up to June. Reports have stated that the company has increased console production to meet global demand. Cell phone related revenue hit 9.06 billion yen, up nearly 450 percent from the 1.6 billion yen recorded in the same period last year. I’d say mobile apps/games is where Nintendo still has huge leg room to stretch out. Once major franchises make the cross over, the reality of app power will truly be known.
So far shares in the company have skyrocketed up 45% year-to-date. Cha-Ching!