Bandai Namco Hldgs ADR (OTC:NCBDY) has announced a strong financial performance for the first quarter of fiscal year 2024, with impressive gains in both net sales and profits.

According to GamesIndustry.biz, for the period ending June 30, 2024, the company reported a 24.8% increase in net sales, reaching 280 billion yen ($1.9 billion). Profitability also saw a notable boost, rising by 56.3% to 34 billion yen ($233 million).

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A significant driver behind these results was the surge in digital entertainment sales, which skyrocketed by 55.8% to 106 billion yen ($725 million).

This uptick can be largely attributed to the release of FromSoftware’s highly anticipated Elden Ring expansion, Shadow of the Erdtree. Launched on June 21, 2024, the DLC sold a staggering five million units within just three days, confirming Bandai Namco's earlier prediction that it would have a substantial impact on Elden Ring sales.

The amusement segment also contributed to the company’s strong performance, with sales rising by 17% to 33 million yen ($225,760) during the quarter.

Looking ahead, Bandai Namco has maintained its full-year financial forecast as previously announced on May 20, 2024.

However, the company has updated its projections for the six months ending September 30, 2024. The revised forecast now anticipates net sales of 555 billion yen ($3.7 billion) and profits of 60 billion yen ($410 million), surpassing the initial estimates of 515 billion yen ($3.5 billion) in net sales and 40 billion yen ($273 million) in profits.

Bandai Namco’s robust performance this quarter underscores the continued success of its key franchises and digital entertainment ventures. With a promising outlook for the rest of the fiscal year, the company appears well-positioned to sustain its growth trajectory.

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