Nintendo quarterly profit falls as Switch 2 sales slow

Nintendo said Thursday that its July-to-September net profit fell 29 percent from a year earlier to 73.5 billion yen, or $465.3 million, as Switch 2 console unit sales slowed.

The Japanese gaming company kept its annual net profit forecast unchanged at 310 billion yen. It reported an 11 percent rise in net profit for the first half of its 2026-27 financial year.

Nintendo said operating profit rose nearly 50 percent in the first six months because of steady game sales and a gain linked to US tariff refunds, even though sales declined because of lower hardware unit sales.

The company sold nearly 6.5 million Switch 2 consoles in the first half, down from nearly 10.4 million a year earlier, when the console was new. The quarterly net profit figure was below an 82.2 billion yen estimate in a Bloomberg survey of analysts.

A remake of "The Legend of Zelda: Ocarina of Time" is being released Thursday as part of the series' 40th anniversary.