The Kyoto-based video game giant said it now expects net profit to be 85 billion yen ($748 million) for the fiscal year to March 2018, well up from an earlier estimate of 45 billion yen.
The new prediction for the Switch is higher than the one disclosed in April by four million units, meaning that Nintendo expects to have shipped 16.74 million units from the console's release by March 31st, 2018 (2.74 million units were shipped before the end of the past fiscal year). Zelda Breath of the Wild continues to be the most popular Switch game with 4.70 million units sold.
We're insanely proud of Nintendo for debuting such a success of a console in this day and age.
Nintendo has announced some updated sales figures for the Nintendo Switch.
The Nintendo Switch is unstoppable that this point and will have a huge sales surge during the Holiday shopping season. "Super Mario Odyssey" for the Switch launched last week.
A drop in the currency inflates the value of profits earned overseas by Japan's exporters.
"A potential risk is a hardware shortage where they could not keep up with surging demand", said Yasuo Imanaka, an analyst at Rakuten Securities in Tokyo. It's also going to be a close race between the first year on the market for the PS4 vs Nintendo Switch.
Operating profit came in at ¥40bn, reversing a year-earlier operating loss, while revenue was ¥374bn - almost triple last year's level.
Shares closed down slightly on Monday prior to the earnings announcement.
Nintendo recorded sales of 374bn yen (£2.5bn) in the last quarter, an increase of 173 per cent on the same period past year.
Smartphone game app Pokemon Go sparked a worldwide craze past year that has captured customers beyond Nintendo's traditional fan base.