Nintendo Shares Jump In Tokyo Exchange On Robust Earnings, Raised FY21 Outlook

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  • Nintendo Co. Ltd (OTC: NTDOYreported net revenue growth of 37.3% year-on-year to ¥1.4 trillion for the nine months ended FY21.
  • The revenue from dedicated video games rose by 38.4% to ¥1.36 trillion. Mobile and IP related income rose by 13.8% to ¥42 billion. Revenue from Playing cards declined by 38.1% to ¥ 1.3 billion.
  • Robust Nintendo Switch sales were noted in Asia and Australia, with strong growth traction in other regions.
  • Adverse exchange rates translated into a decline of ¥14.9 billion in revenue.
  • The gross profit rose by 65% to ¥768.8 billion with a margin expansion of 910 basis points primarily boosted by a higher proportion of software sales and digital sales.
  • Strong gross profit growth led to operating profit growth of 98.2% to ¥521.1 billion with a margin expansion of 1,140 basis points.
  • The net profit rose by 91.8% to ¥ 376.6. billion and EPS rose by 91.8% to ¥3,161.97.
  • The robust financial performance has led to increased FY21 net sales, operating profit, and net profit outlook to ¥1.6 trillion, ¥560 billion, and ¥400 billion respectively from the previous outlook of ¥1.4 trillion, ¥450 billion, and ¥300 billion.
  • Nintendo raised the Switch hardware unit sales outlook from 24 million units to 26.5 million units and raised the Switch software outlook from 170 million units to 205 million units.
  • The annual dividend per share stood at ¥1,680 per share. The company plans to add ¥200 per share thereof, leading to a total annual dividend of ¥ 1,880 per share.
  • Price action: NTDOY shares closed lower by 3.53% at $581.50 on Friday. The stock was up 3.4% in Tokyo exchange after reporting earnings Monday.
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Posted In: EarningsNewsGuidanceDividendsTechMediaNintendo Switch
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