Nintendo (NTDOY) has released its earnings report for Q1 2024, providing insight to its financial performance during the first quarter of its fiscal year. While the report features a plethora of fascinating details about Nintendo’s operations, one that really stands out are its digital sales. Nintendo has reported a 35 percent bump in digital revenue during the quarter, with Tears of the Kingdom leading the charge.
The figures can be found on page 13 of Nintendo’s Q1 2024 earnings release. “Digital sales during the first quarter increased by 35.9% year-on-year to 119.6 billion yen and accounted for 47.3% of total software sales for our dedicated video game platform.” The graph on this page provides a visual breakdown of how this quarter’s digital sales compared to previous ones. The Legend of Zelda: Tears of the Kingdom, Mario Kart 8 Deluxe, and Super Mario 3D World + Bowser’s Fury are the three games Nintendo highlights as driving digital sales this quarter. TotK is probably responsible for the majority of these sales, as the report also reveals that the Zelda sequel moved 18.51 million units during the quarter.
Digital sales making up nearly half of all of Nintendo’s software sales is pretty significant. While the entire gaming industry is moving toward an all-digital future, plenty of Nintendo fans have stuck to physical copies due to their history of mark-ups in the resale markets. If nothing else, it’s a testament to the fervor surrounding the release of Tears of the Kingdom this past May.
The large growth in digital revenue will surely be music to the ears of Nintendo (NTDOY) shareholders. It’ll be interesting to see if that momentum flows into Q2, with Super Mario Bros. Wonder set to release at the tail end of the quarter. Shacknews has all the information you need to know from Nintendo’s latest earnings report.