NTDOY - Nintendo sees revenue surge aided by Super Mario movie Zelda sales

2023-08-03 07:28:35 ET

Nintendo ( OTCPK:NTDOY ) said on Thursday that revenue in its June quarter surged 50% from a year ago as the Japanese entertainment company was sharply boosted by The Super Mario Bros . movie and the hit video game, The Legend of Zelda: Tears of the Kingdom.

For the period ending June 30, Nintendo ( OTCPK:NTDOY ) said revenue came in at 461.34B yen, or $3.2B, up 50% year-over-year. It generated a net profit of 181.02B yen, or $1.27B, both of which topped estimates.

In a statement, Nintendo ( OTCPK:NTDOY ) said that the new Zelda game, which was released in May, has sold 18.51M units and is the fastest selling Zelda game in history.

Conversely, The Super Mario Bros. movie has generated $1.3B at the box office .

Kyoto, Japan-based Nintendo also said the movie , which stars Chris Pratt as the titular plumber, boosted Mario video games during the period, including Mario Kart 8 Deluxe , which sold 1.67M units.

The Super Mario Bros. movie is co-produced by Universal's ( CMCSA ) Illumination and recently became available on the Peacock streaming service.

Total software sales rose 26.1% year-over-year to 52.21M units during the period.

Nintendo ( OTCPK:NTDOY ), which is focused increasingly more on getting its characters into other mediums aside from video games, also pointed out that the mobile and IP business, which benefited from "the combination of an increase in income from royalties and the high level of audience engagement with The Super Mario Bros. Movie ," saw an 190.1% year-over-year increase.

Perhaps most surprisingly, Nintendo ( OTCPK:NTDOY ) said hardware sales rose 13.9% year-over-year to 3.91M, despite the fact that the Switch is more than six years old.

The earnings report comes as rumors swirl that Nintendo ( OTCPK:NTDOY ) is getting ready to launch a new console, perhaps as soon as next year. Recent media reports have speculated that the new console, as yet unnamed, could be released in time for Christmas 2024.

Nintendo ( OTCPK:NTDOY ) shares were up 0.5% in pre-market trading and have gained slightly less than 4% year-to-date.

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