Nintendo reports 60% plunge in YoY profit for the first half as the Switch shows its age

In brief: Nintendo is experiencing a financial hangover after a great run with its Switch console. The company has reported a 60 percent drop in profit for the first half of its fiscal year compared to the same period last year, suggesting the time for the handheld's successor may be near.

Nintendo posted a still-impressive $714.2 million in net profit from April through September, though it missed analysts' expectations of around $885 million for the six-month period.

The company has also lowered its full-year sales forecasts, now projecting 12.5 million Switch units sold by the fiscal year ending in March 2025, down from an initial target of 13.5 million. Software sales forecasts have also been trimmed, with an estimated 160 million game copies expected to be sold, revised from the previous forecast of 165 million.

The slowdown in Switch sales after six highly successful years is ...