Nintendo Profits Soared 86% During The Pandemic

Redmond WA

06 May, 2021

7:19 PM

Description

REDMOND, WA — Nintendo saw booming sales during the coronavirus pandemic, reporting an 86 percent increase in global profits between March 2020 and March 2021, the Kyoto-based video game company announced this week. According to the Associated Press, the massive jump in earnings is largely thanks to the success of the Nintendo Switch and its games, which many across the world relied on for entertainment amid stay-at-home orders and lockdown measures. Nintendo's American operations are headquartered in Redmond, surrounded by the sprawling Microsoft campus. The company is Redmond's fifth-largest employer, according to the city, with nearly 1,000 full-time employees. The Associated Press reports Nintendo's worldwide sales grew 34 percent over the last year, with roughly $4.4 billion in profit, a figure well above its forecast. According to Polygon, Nintendo sold another 28 million Switch consoles, an increase of 7 million over the year before. Game sales were particularly strong for "Animal Crossing: New Horizons," which was released just days before Washington's first "Stay Home, Stay Healthy" took effect. Nintendo is projecting a slight dip in earnings following the pandemic boom, but the company has a few potentially big-sellers in the works, including a new Pokemon game and reportedly an upgraded version of the Switch. The company also opened its first theme park in Japan earlier this year, but it remains closed amid a new wave of coronavirus illnesses.