<p>视频游戏公司 <strong>任天堂</strong>(NTDOY -1.68%) 的股票在周二下跌，此前该公司公布了财务业绩。这家日本公司不常报告财务数据，但提供了最近六个月的数字。投资者对此并不太满意，因此截至东部时间上午 10:20，任天堂的股票下跌了约 3%。但在当天早些时候，股价一度下跌接近 5%。</p>
<h2>任天堂 Switch 的销售未达预期</h2>
<p>任天堂销售视频游戏，并拥有大量可变现的知识产权。但这项业务的核心是视频游戏主机。目前的硬件是任天堂 Switch，已经有八年历史。考虑到其年龄，销售下滑并不令人惊讶。</p>
<p>任天堂 2025 财年的上半年于 9 月 30 日结束。在这六个月期间，净销售额较 2024 财年的可比期间下降了 34%，营业利润下降了 57%。此外，该公司在此期间售出了不到 500 万台 Switch 主机，下降幅度为 31%。</p>
<p>鉴于 2025 财年上半年的销售疲软，任天堂下调了 Switch 销售的全年预期。之前它希望在 2025 财年售出 1350 万台，现在希望售出 1250 万台，这显然也降低了其收入和利润预期。这就是股票下跌的原因。</p>
<h2>Switch 2 何时发布？</h2>
<p>按照惯例，任天堂管理层对继任任天堂 Switch 的细节保持谨慎——非正式名称为 “Switch 2”。但据路透社报道，管理层表示仍希望在 2025 财年结束前，即 3 月之前发布新主机。</p>
<p>投资者可能更希望任天堂能在假日购物季之前发布 Switch 2。但目前看来这不太可能。尽管如此，迟早公司会更新其硬件。而该设备的表现对投资者来说将极为重要，因为它可以推动业务近十年，正如任天堂 Switch 所证明的那样。</p>

任天堂

任天堂(ADR)

<p>任天堂（NTDOY）的股价下跌约 3%，原因是该公司公布了 2025 财年上半年的财务业绩令人失望，净销售额下降 34%，营业利润下降 57%。老化的任天堂 Switch 主机销量不足 500 万台，这促使公司将全年销售预期从 1350 万台下调至 1250 万台。投资者还对备受期待的 “Switch 2” 主机的推迟发布表示担忧，管理层希望在 2025 财年结束前推出该产品</p>

<p>Shares of video game company <strong>Nintendo</strong>(NTDOY -1.68%) dropped on Tuesday after the company reported financial results. The Japanese company reports infrequently but provided numbers for the most recent six-month period. Investors weren't too thrilled and Nintendo stock was consequently down about 3% as of 10:20 a.m. ET. But it had been down closer to 5% earlier in the day.</p>
<div class="lb-trans"><p>视频游戏公司 <strong>任天堂</strong>(NTDOY -1.68%) 的股票在周二下跌，此前该公司公布了财务业绩。这家日本公司不常报告财务数据，但提供了最近六个月的数字。投资者对此并不太满意，因此截至东部时间上午 10:20，任天堂的股票下跌了约 3%。但在当天早些时候，股价一度下跌接近 5%。</p>
</div><h2>The Nintendo Switch isn't selling as hoped</h2>
<div class="lb-trans"><h2>任天堂 Switch 的销售未达预期</h2>
</div><p>Nintendo sells video games and has tons of monetizable intellectual property. But the bread and butter of this business is video game consoles. Right now, the current hardware is the Nintendo Switch and it's eight years old. Given its age, it's not surprising that sales are waning.</p>
<div class="lb-trans"><p>任天堂销售视频游戏，并拥有大量可变现的知识产权。但这项业务的核心是视频游戏主机。目前的硬件是任天堂 Switch，已经有八年历史。考虑到其年龄，销售下滑并不令人惊讶。</p>
</div><p>The first half of Nintendo's fiscal 2025 ended on Sept. 30. And during that six-month period, net sales were down 34% from the comparable period of its fiscal 2024 and operating profit fell 57%. Moreover, the company sold fewer than 5 million units of its Switch console during this time, down 31%.</p>
<div class="lb-trans"><p>任天堂 2025 财年的上半年于 9 月 30 日结束。在这六个月期间，净销售额较 2024 财年的可比期间下降了 34%，营业利润下降了 57%。此外，该公司在此期间售出了不到 500 万台 Switch 主机，下降幅度为 31%。</p>
</div><p>Given the lackluster sales in the first half of fiscal 2025, Nintendo is lowering its full-year guidance for Switch sales. Previously it hoped to sell 13.5 units in fiscal 2025. Now it's hoping to sell 12.5 million, which obviously lowered its revenue and profit expectations as well. This is why the stock is down.</p>
<div class="lb-trans"><p>鉴于 2025 财年上半年的销售疲软，任天堂下调了 Switch 销售的全年预期。之前它希望在 2025 财年售出 1350 万台，现在希望售出 1250 万台，这显然也降低了其收入和利润预期。这就是股票下跌的原因。</p>
</div><h2>When does Switch 2 come out?</h2>
<div class="lb-trans"><h2>Switch 2 何时发布？</h2>
</div><p>As is tradition, Nintendo's management is being cagey regarding details for a successor to the Nintendo Switch -- the unofficial name is the &#34;Switch 2.&#34; But as reported by Reuters, management says it still hopes to release the new console before the end of fiscal 2025 in March.</p>
<div class="lb-trans"><p>按照惯例，任天堂管理层对继任任天堂 Switch 的细节保持谨慎——非正式名称为 “Switch 2”。但据路透社报道，管理层表示仍希望在 2025 财年结束前，即 3 月之前发布新主机。</p>
</div><p>Investors might have preferred for Nintendo to release Switch 2 in time for the holiday shopping season. But that's looking unlikely at this point. That said, sooner or later, the company will update its hardware. And the performance of that device will be extremely material for investors because it can drive the business for nearly a decade, as evidenced by the Nintendo Switch.</p>
<div class="lb-trans"><p>投资者可能更希望任天堂能在假日购物季之前发布 Switch 2。但目前看来这不太可能。尽管如此，迟早公司会更新其硬件。而该设备的表现对投资者来说将极为重要，因为它可以推动业务近十年，正如任天堂 Switch 所证明的那样。</p>
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任天堂股票今天为何下跌