Nintendo Switch sold 2.74 million units in March alone

Profits up 5x in the last fiscal year, with Nintendo expecting a further 10 million Switch sales in the year ahead

Nintendo increased its net profit by 5x in the last financial year, despite the Switch having just launched when the accounting period closed.

In the 12-month period ended March 31, Nintendo earned ‎¥‎489 billion ($4.4 billion) in revenue, slightly down on the ‎¥‎504 billion it earned in the previous year. However, net profit increased from ‎¥‎17 billion in FY2016 to ‎¥‎103 billion ($925 million), beating Nintendo's own forecast by 14%.

The company said that the difference was down to better than expected shipments of the Switch, which sold 2.74 million units in March alone. That figure was attained by Reuters, which attended a press conference with Nintendo CEO Tatsumi Kimishima in Japan. Kimishima said that the company expects to sell a further 10 million units in the current financial year.

According to Reuters, Kimishima said he was "relieved" by the console's early performance. "If the 10 million target is achieved ... that means the sales momentum would be close to the Wii," he said.

Sales of Zelda: Breath of the Wild have also been strong, with Nintendo reporting 2.76 million units sold for Switch and 1.08 million for Wii U - those figures are life-to-date, and not constrained by the end of the fiscal year on March 31.

The 3DS also produced two big hits last year, with Pokémon Sun and Moon selling 15.4 million units life-to-date, and Super Mario Maker 3DS selling 2.34 million units.

For the fiscal year ending March 31, 2018, Nintendo expects ‎¥750 billion ($6.7 billion) in revenue and ‎¥45 billion ($404 million) in net profit. Speaking to the press in Japan, Kimishima said the profit forecast would be affected by increased marketing around the Switch.

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