Nintendo’s financial results are in, and it appears as though there are some significant drops in revenue and sales for the company. Down 46.5% year-on-Year, Nintendo recorded ¥246.6 billion ($1.6 billion) in net sales for Q1 FY25, while its net profits declined by 55.3%, bringing in ¥80.9 billion ($542.9 million).
Looking specifically at its mobile and IP business, Nintendo generated ¥14.7 billion ($103 million), representing a 53.8% fall in income. However, Nintendo attributes this to “the decrease in income from visual content related to The Super Mario Bros. Movie.” It’s a fair statement given the Mario movie’s box office performance, bringing in more than $1.3 billion following its release on April 1, 2023. Meanwhile, even the release of two Mario games couldn’t stave off the drop in software sales, with the quarter seeing 30.64 million units, which is a drop of 41.3% year-on-year.
Both Paper Mario: The Thousand-Year Door and Luigi’s Mansion 2 HD came out in Q1 FY 2025. However, while we gave the games a nine and eight in our Paper Mario: The Thousand-Year Door review and Luigi’s Mansion 2 review, respectively, they are both remakes and, therefore, were not expected to pull the same numbers that TotK pulled in last year, which we gave a ten in our The Legend of Zelda: Tears of the Kingdom review.
By the end of the quarter ending June 30, Paper Mario: The Thousand-Year Door sold 1.3 million copies, with that number now at 1.76 million, while Luigi’s Mansion 2 is also seeing success with 1.19 million sales since its release in June. There’s a third Mario character who’s also pulling their weight for Nintendo, with Nintendo explaining that Princess Peach: Showtime contributed to the total sales of Q1 FY25 with 1.3 million sales, releasing in March at the end of the last fiscal year.
While the software sales are considerably lower, it’s not too much of a surprise given the difference in releases, and it’s a similar story with hardware. Unit sales for the Switch family of consoles fell 46.3% year-on-year to 2.10 million. Nintendo points out that console sales were high for Q1 2024 due to the Mario movie and Tears of the Kingdom and that “there were no such special factors in place for this fiscal year.”
However, it’s worth noting that the hardware sales for Q1 FY25 did hold steady, matching the same level as Q4 FY24. We have no doubt that Nintendo will see a monumental increase in hardware sales when the Nintendo Switch 2 finally arrives. Looking to the future, there’s a special edition console on the way this quarter in the form of the Nintendo Switch Lite Hyrule Edition.
Software, meanwhile, also has numerous releases in the coming months, with Emio – The Smiling Man: Famicom Detective Club, The Legend of Zelda: Echoes of Wisdom, Super Mario Party Jamboree, and Mario & Luigi Brothership. If you need something to play right now, check out our list of the best Switch games; there’s something for everyone, with entries from various franchises and genres.