Nintendo Co (OTC:NTDOY) reported third-quarter revenue of $1.10 billion (432.92 billion Japanese yen), down from $1.70 billion (598.56 billion Japanese yen) a year ago.

EPS of 110.40 Japanese yen compared to 117.45 Japanese yen a year ago.

Nintendo sold 4.82 million Nintendo Switch hardware in the third quarter, bringing the total for the current fiscal year to 9.54 million units (down by 30.6% Y/Y).

Also Read: Sony Eyes Portable Gaming Market With New Handheld Console In Development

The company expects to sell 11.00 million units of Nintendo Switch hardware in fiscal 2025, down from 12.50 million units it previously expected. It expects to sell 150 million units of Nintendo Switch software in fiscal 2025, down from 160 million units it previously expected.

The company expects fiscal 2025 net sales of 1.19 trillion Japanese yen (prior 1.28 trillion Japanese yen) and EPS of 231.91 Japanese yen (prior 257.68 Japanese yen).

Nintendo reduced the annual dividend forecast to 116 Japanese yen per share from 129 Japanese yen per share.

In January, Nintendo shared plans to showcase the new console at Nintendo Switch, which will start in April. However, the company also flagged that Nintendo Switch games may not be supported or fully compatible with the Switch 2. Nintendo Switch has sold over 125 million units since its 2017 debut.

Also Read:

• PUBG Developer Krafton Invests $136 Million in Game Studios, Expands AI Team for Future Gaming Innovations

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This article Nintendo Q3 Revenue Drops, Cuts Outlook and Dividend, Switch Sales Slow Ahead of Next-Gen Console originally appeared on Benzinga.com

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