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Nintendo profits are soaring thanks to Mario and Switch

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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.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Leaders

Harris secures strong Democratic support for White House run despite challenges

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Kamala Harris delivered a pointed speech targeting former President Donald Trump, emphasising a hopeful vision for the future under her leadership.

Harris criticised Trump’s policies and leadership style, asserting her commitment to a brighter future for the country.

Harris highlighted economic recovery, healthcare reforms, and social justice as key priorities for her administration, contrasting them with Trump’s tenure. #featured #trending #ticker news

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Vice President Kamala Harris prepares to enter 2024 U.S. presidential race

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Vice President Kamala Harris has confirmed her 2024 presidential bid.

Following President Joe Biden’s decision to drop out of the race, Vice President Kamala Harris has confirmed her 2024 presidential bid.

Harris’s announcement marks a historic moment, as she seeks to become the first female president of the United States.

The news has sent ripples through both the Democratic Party and the broader political landscape as the 2024 election swiftly approaches.

Oz Sultan, the Chief Strategist with the Sultan Interactive Group joins Veronica Dudo to discuss.

#IN AMERICA TODAY #trending #election #2024election #JoeBiden #KamalaHarris

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Leaders

U.S. Secret Service Director admits security failure, faces rising resignation demands

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House Republicans and Democrats have jointly called for the resignation of the U.S. Secret Service Director following the mishandling of recent security incident involving the attempted assassination of Former President Trump.

The U.S. House of Representatives Oversight Committee’s Republican chair, James Comer, and top Democrat, Jamie Raskin both called on Secret Service Director Cheatle to step down.

The demands for Cheatle’s resignation comes after the Secret Service’s response to a recent attempted assassination on former President Donald Trump.

Former Secret Service agent Tim Miller joins Ticker’s Ahron Young to discuss the issue. #featured #trending

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