Nintendo Reports Soaring Profits As Pandemic Keeps People At Home Playing Video Games

REUTERS/Issei Kato

Taylor Giles Contributor
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Nintendo announced Thursday that the company’s fiscal first-half profit more than tripled this year compared to previous years amid the global COVID-19 pandemic, according to Fox 10 Phoenix.

The company’s profits through September were approximately $2 billion, according to Fox 10, as opposed to almost $600 million in 2019. (RELATED: ‘Strong Continue To Get Stronger’: Tech Titans See Big Gains Amid Economic Chaos, Pandemic Surge)

Sales from the same time period were approximately $7.4 billion, up from $4.2 billion last year, according to Fox 10.

Nintendo also sold 26 million copies of “Animal Crossing: New Horizons” worldwide since it’s release. Nintendo’s mobile sales and online downloads have also contributed to the company’s increased earnings.

The Switch consoles are also exceeding prior projections by five million units, reports Market Watch. In the first half, the company sold 12.5 million units, up from 6.9 million for the first half of the previous year. (RELATED: 10 Nintendo Switch Accessories To Level Up Your Gaming)

Earlier in the year, Nintendo forecasted an 8.3% revenue decrease, compared with a new expectation for a revenue increase of 7%, Market Watch reports. Nintendo expects these positive sales to continue with new game releases scheduled.

Online retailing and at-home entertainment are among sectors that are booming from the global pandemic, Fox 10 Phoenix reported.