News
Nintendo profits are soaring thanks to Mario and Switch
Nintendo says a positive revision to its financial guidance for the fiscal year ending in March, attributing the boost to robust sales of its popular Switch console and software.
The company now projects a net profit of Y440.00 billion ($2.96 billion) for the fiscal year, representing a 1.7% increase from its previous forecast, which initially predicted a 3.0% decrease in net profit.
Additionally, Nintendo anticipates revenue to reach Y1.630 trillion, reflecting a 1.8% rise compared to its prior forecast, which had anticipated a 1.4% decrease in revenue.
Nintendo’s optimistic outlook is primarily driven by the strong performance of its flagship product, the Nintendo Switch.
The company now forecasts sales of 15.5 million Switch consoles for the fiscal year, up from its initial projection of 15.0 million units.
Switch software
Nintendo expects to sell 190.0 million copies of Switch software, surpassing its earlier estimate of 185.0 million copies.
In the nine-month period ending on December 31, 2023, Nintendo witnessed substantial growth in its financial performance, with net profit surging by 18% year-on-year to Y408.04 billion.
This surge in profitability was accompanied by a 7.7% increase in revenue, which reached Y1.395 trillion.
The financial growth was primarily driven by the outstanding sales of hit titles like “Super Mario Bros. Wonder” and “The Legend of Zelda: Tears of the Kingdom.”
IP income
Nintendo experienced a remarkable 93% year-on-year increase in revenue from mobile and intellectual property-related income during the nine-month period, with earnings amounting to Y75.2 billion.
The company attributes this impressive growth partly to the success of “The Super Mario Bros. Movie,” which had a significant positive impact across Nintendo’s entire business, leading to increased sales of both software and hardware units.
The recent surge in Nintendo’s stock prices is a testament to the market’s optimism regarding the company’s ongoing financial success. Investors appear confident that Nintendo will continue to ride the wave of strong earnings momentum.
News
Global EV shake-up: Australia slows, China surges, Lexus teases supercar
Australia’s EV market slows, sales below 100,000; Costello discusses barriers and climate goals in latest Ticker episode.
Australia’s EV market slows, sales below 100,000; Costello discusses barriers and climate goals in latest Ticker episode.
Australia’s electric vehicle market is facing a slowdown, with sales struggling to hit the 100,000 mark this year.
Mike Costello from Cox Automotive breaks down the key barriers slowing adoption and explains whether current growth is enough to meet the country’s climate goals.
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#EVNews #ElectricCars #AustraliaEV #ChinaEV #LexusLFA #Zeekr7X #SustainableTransport #EVMarket
Lando Norris secures his first F1 World Championship at Abu Dhabi, becoming Britain’s 11th World Champion with 423 points.
Lando Norris has clinched his maiden Formula 1 World Championship after an electrifying finale at the Abu Dhabi Grand Prix. In a race packed with tension, Norris held onto third place — the exact result he needed to secure the title.
His performance not only sealed his first championship but also cemented him as Britain’s 11th F1 World Champion, marking a historic moment for McLaren and the sport.
Norris closed out the season with 423 points, marking a defining milestone in his career.
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#Formula1 #F1News #LandoNorris #MaxVerstappen #OscarPiastri #AbuDhabiGP #McLarenF1 #TickerNews
News
China naval activity raises tensions from Philippines to Galápagos
Rising tensions in the South China Sea prompt expert insights on regional security and global trade implications.
Rising tensions in the South China Sea prompt expert insights on regional security and global trade implications.
Tensions in the South China Sea are rising as Chinese naval and fishing vessels are spotted near the Philippines and even as far as the Galápagos Islands. Experts warn these movements could impact regional security and international waters.
We speak with Tim Harcourt from UTS to break down the significance of these developments, including the role of Taiwan, ASEAN, and Japan in responding to Chinese maritime activity.
From potential diplomatic fallout to economic implications, this interview dives into what these naval movements mean for the future of the region and global trade.
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#ChinaNaval #SouthChinaSea #Geopolitics #Philippines #Galapagos #MaritimeTensions #InternationalRelations #TickerNews
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