Microsoft's latest earnings results have been published for the quarter ended September 30th, 2022 (FY23 Q1) and Xbox's gaming revenue is up by 4% year-over-year.
Xbox's hardware revenue increased by 13%. Once again, this was thanks to the continued demand for Xbox Series X|S around the globe. However, Xbox's "content and services" revenue has declined by 3%. Here's what the official report said about this - noting how it's offset by growth in Xbox Game Pass:
"...Driven by declines in first-party content and in third-party content, with lower engagement hours and higher monetization, partially offset by growth in Xbox Game Pass subscriptions."
For this same period, Microsoft's overall revenue was $50.1 billion, which is a better outcome than the previous estimate of $49.7 billion.
Although there have been declines in first-party content during this quarter, Xbox looks set to improve first-party offerings in 2023 with releases like Forza Motorsport, Starfield and Minecraft Legends. It's also still in the process of closing the Activision Blizzard acquisition.
Pleased with these results? Give us your thoughts in the comments below.
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[source microsoft.com, via windowscentral.com]
Comments 3
'Pleased with these results? Give us your thoughts in the comments below' don't really care I'm not a shareholder lol
Overall it's not too bad. I think it's clear to Microsoft that steady consistancy is going to be key moving forward. They can't just dump 4 games September to December and not release anything major for a year when they have a subscription service. I think even a single digit growth is welcome for 2022.
@Would_you_kindly I am and I think most long term investors should be pleased.
I wish they would say how many Game Pass subscribers they have now? Last we heard was 25 million I believe.
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