Nintendo raises Switch console sales forecast to 15.5 million units

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Nintendo has kept players interested in the aging Switch console series through flagship games featuring characters such as Super Mario and Zelda.

Charlie Triballeau | AFP| Getty Images

Nintendo said it now expects to sell 15.5 million of its flagship Switch consoles in its current fiscal year, up from its previous forecast, after the issue to make on market expectations for profit and income for the December quarter.

The Japanese game giant previously predicted sales of 15 million Switch consoles in the current fiscal year that ends in March.

Here’s how Nintendo did in its fiscal third quarter compared to LSEG estimates:

  • Net sales: 598.6 billion Japanese yen ($4 billion) versus 568.7 billion yen expected
  • Net profit: 136.7 billion Japanese yen versus 130.3 billion yen expected

Fans and investors alike are looking for when Nintendo will launch a successor to its nearly 7-year-old Switch console. Analysts who spoke to CNBC said they expect a new Nintendo Switch to come out this year.

The Japanese gaming giant has been on a roll lately thanks to the release of the “Super Mario Bros. Movie” and the hit Zelda game last year, which fueled interest in the Switch and helped sales the aging consul.

Tokyo-listed Nintendo shares are up about 14% this year already amid a broader rally in Japanese stocks as investors bet the gaming company will launch a new console that ‘ soon.

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