U.S. video game sales fall 3% in April, led by a 43% drop in hardware sales
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 29 2024
0mins
Source: SeekingAlpha
U.S. Video Game Sales in April:
- Sales fell by 3% year-over-year to $1.4 billion, mainly due to a significant drop in hardware sales.
- Sony's PlayStation 5 and Microsoft's Xbox Series X sales slowed down because of aging hardware and lack of major game launches.
- Nintendo anticipates a decline in profit with decreasing Switch console sales as they prepare for the launch of a new successor next year.
- Video game content sales increased by 2% to $3.74 billion in April, while hardware sales dropped by 43% to $208 million and accessories sales by 4% to $152 million.
- All major console makers experienced a decline in hardware platform sales, with the Switch showing the most significant year-on-year decline of 69%.
Top Selling Games in April:
- Sony's Stellar Blade and Helldivers II were the top-selling games, followed by Activision Blizzard's Call of Duty: Modern Warfare III.
- Microsoft's Sea of Thieves and Fallout 4 ranked third and fourth, respectively, with the Fallout series benefiting from the debut of the Fallout TV show.
Year-to-Date U.S. Video Game Sales:
- Overall, video game sales in the U.S. rose by 4% to $18.76 billion year-to-date ending in April.
- Hardware sales declined by 28% to $1.33 billion, offset by an 8% increase in content sales to $16.58 billion and an 18% rise in accessories to $859 million.
Analyst Views on NTES
Wall Street analysts forecast NTES stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NTES is 157.33 USD with a low forecast of 135.00 USD and a high forecast of 166.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
5 Buy
1 Hold
0 Sell
Strong Buy
Current: 132.840
Low
135.00
Averages
157.33
High
166.00
Current: 132.840
Low
135.00
Averages
157.33
High
166.00
About NTES
NetEase Inc is a company principally engaged in the gaming business. The Company operates through four segments. Games and Related Value-Added Services segment is engaged in the development and sale of mobile games, game operations, and other value-added services, including in-game virtual items and prepaid credits. Youdao segment provides learning services, smart devices, and online marketing services. The segment's products and services include online courses and digital content services. NetEase Cloud Music segment provides online music services, social entertainment services, and other services through the sale of membership subscriptions for various content and service packages, primarily through the sale of virtual items. Innovative Businesses and Others segment provides rigorous selection, advertising services, email, and other value-added services.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.








