on Tuesday reported quarterly profit that beat market estimates and said it sold more units of its flagship Switch console than it had forecast.Revenue: 277.1 billion Japanese yen versus 280.6 billion yen expected.Earlier this year, Nintendo hiked its forecast for sales of its flagship Switch console to 15.5 million units in its fiscal year ended March. The company beat its expectations, selling 15.7 million units of the Switch in the fiscal year.
The company said it expects to sell 13.5 million Switch consoles in the fiscal year ended March 2025. For the full fiscal year ended March 2024, Nintendo said sales totaled 1.7 trillion yen, beating analyst estimates. That's a 4.4% year-on-year rise. Net profit came in at 490.6 billion yen, beating market estimates, and up 13.4% year-on-year.Investors have been focused on any comments from Nintendo regarding a successor to the Switch, which is now more than seven years old.
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