Sony and Nintendo both reported their quarterly financials Tuesday, and the gaming giants brought in sizable profits despite a slight slowdown in game console sales.
Nintendo has sold 19.67 million total Switch units and 86.93 million games. Switch has come out of the gate since its spring 2017 release as one of the most successful consoles ever, and it has a been a boon for Nintendo.
Nintendo has set a goal of selling 20 million Switch consoles in the current fiscal year. For the quarter, it sold 1.88 million consoles, which is down slightly from this time a year ago and behind the pace the company set for itself.
Nintendo has put up some huge quarterly numbers in recent months, comparing current figures with the pre-Switch era. But annual comparisons now factor in the impact of Switch, and it will be interesting to see what the balance sheets look like now that the initial spurt caused by the successful console has past.
Nintendo posted net sales for the quarter of $1.51 billion, represent only a 9 percent increase from the year before. However, operating profits of $275 million are up 88 percent over last year.
Sony, which is powered by a variety of different divisions, beyond just gaming, posted $2.1 billion in profits on $17.9 billion in revenue. The company’s gaming division was responsible for $4.2 billion in revenue and $746 million in profits, more than twice as much as any other organization within the company.
Sony moved 3.2 million PS4s in the quarter — also down slightly from a year ago, but less of a drop off than the company had previously warned. More than 40 million games sold during the quarter.
Despite the slowing console sales, both companies have reason to be optimistic. Both have major releases in the coming months — Super Smash Bros. Ultimate and two Pokémon Let’s Go games for Nintendo and Assassin’s Creed: Odyssey, Battlefield V and Red Dead Redemption 2 for PlayStation.
Microsoft’s Xbox division doesn’t break out a lot of these numbers, such as the number of consoles sold. But it’s overall gaming division, which includes Xbox hardware, Xbox and software and services, games made by Microsoft as well as other studios brought in $2.29 billion in revenue in the quarter, surpassing Nintendo but behind Sony.