Gaming company sees year-over-year decline despite exponential Q3 profits.
The company reported an October to December profit of 64.7 billion yen ($569 million), up from 29.1 billion yen profit in the same period of 2015. However, despite the exponential growth in Q3, the company revealed net sales of 174 billion yen ($1.5 billion) for a total of 311 billion yen ($2.8 billion) for the nine months ended Dec. 31, 2016, which is down 26.9 percent year-over-year.
Additionally, Nintendo’s bottom line was aided by a relatively weak yen, which lifts oversea revenue, according to
Furthermore, the company attributes the success of the mobile game “Pokémon Go” to bigger Pokémon game sales for the Nintendo 3DS. Nintendo also made a big push into mobile with “Super Mario Run” for iPhone, which launched late last year and generated a huge buzz.
The Pokémon Company, a joint venture between Nintendo, Game Freak and Creatures, is the world’s No. 29 largest
Additionally, the gaming company’s third quarter and nine-month results come as it prepares to launch its handheld-console hybrid, the Nintendo Switch, this March.
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.