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Thank You, Mario! Nintendo Rescues The Year For Video Game Sales

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Thank You, Mario! Nintendo Rescues The Year For Video Game Sales

The Nintendo Co., Ltd (ADR) (OTC: NTDOY) Switch console has been a surprise hit for investors and has single-handedly rejuvenated U.S. video game sales. But according to NPD Group analyst Mat Piscatella, the Switch passed the torch to the recently-launched SNES Classic platform in the month of September.

According to a series of tweets by Piscatella, the Switch remains the best-selling current-generation gaming console, but the SNES Classic was the top unit selling platform on the month.

Related Link: As Nintendo Preps SNES Relaunch, A Look Back At The System's Top 10 Bestsellers

Statista recently compiled data from NPD Group and created the chart below, indicating how Nintendo’s new devices have turned the sales tide in 2017.

The Switch set a record for console sales when it launched back in March and has outsold every other gaming console every month since in terms of total sales dollars. Prior to the Switch launch, Sony Corp (ADR) (NYSE: SNE) PlayStation 4 sales were trending lower compared to a year ago. However, since March, Switch sales have outshined 2016 console sales in each month other than August.

Overall, U.S. video game hardware sales have been up more than 20 percent in five of the past seven months.

Nintendo is on the comeback trail in 2017, and its success has been reflected in its share price. Nintendo shareholders needed the Switch to be a big hit after the disappointing Wii U console.

After a Pokemon GO spike in summer of 2016 failed to last, Nintendo stock has steadily increased throughout 2017 on the Switch wave. Shares are now up 87.7 percent year to date.

Posted-In: Mat Piscatella Nintendo Switch NPD Group SwitchAnalyst Color Top Stories Tech General Best of Benzinga

 

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