Nintendo profits jump 500 percent on soaring Switch sales

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Nintendo on Thursday reported impressive earnings for its latest fiscal year, one that saw the company sell more than 15 million Switch consoles (bringing the total to 17.79 million). By comparison, Nintendo sold just 13.56 million Wii U consoles during a five-year span.

During the most recent fiscal year, Nintendo’s top-selling game was Super Mario Odyssey which sold 10.41 million units (more than half of all Switch owners bought the game) followed by Mario Kart 8 Deluxe at 9.22 million units sold and Splatoon 2 at 6.02 million copies moved. When adding in games from other publishers, there are now a dozen Switch games that have sold more than a million copies.

Also worth noting is the fact that Nintendo has sold more than five million SNES Classic Editions, the retro-inspired miniature console that’s still next to impossible to find in stores.

As for earnings, Nintendo brought in 178 billion yen ($1.62 billion) in operating profit, a massive increase of 505 percent over the previous 12-month period. Revenue, meanwhile, soared by 116 percent to 1.06 trillion yen ($9.66 billion).

Nintendo’s financial report was accompanied by news that CEO Tatsumi Kimishima, the man who stepped in to replace the beloved Satoru Iwata after his passing in mid-2015, will retire on June 28. He is being replaced by Shuntaro Furukawa, a board member that is 22 years younger than Kimishima. Furukawa is a product of the Family Computer (NES) era and joined Nintendo in 1994.

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