Bandai Namco recently announced its financial results for the first quarter of its 2023 fiscal year which ran from the beginning of April to the end of June. Overall, the organization saw tremendous growth, thanks in part to the company’s video game unit.
Net sales were up 21.5% year-on-year generating $1.62 billion. Meanwhile, operating profits reached $334 million, a 64.3% year-on-year increase.
Bandai Namco’s digital business segment reported home video game sales rose by 54.5% year-on-year, hitting $304 million. The company now expects video game sales to hit $1.05 billion by the end of the 2023 fiscal year this coming March.
“Profits also increased significantly due to strong repeat sales of home video games, which have high-profit margins,” Bandai Namco said in its report.
Elden Ring is been responsible for a lot of the video game unit’s success. After all, the company has sold over 13.4 million copies of the game worldwide as of May 2022, so you have to imagine that number has grown since then.