It's a new year and as part of this, Microsoft has shared its latest earnings results for the quarter ended December 31st, 2022 (FY23 Q2). Overall, gaming revenue for the company saw a decline of 13% year-over-year.
Xbox's "content and services" revenue also saw a decline of 12% and Xbox hardware revenue was down by 13%. This was offset by growth in Xbox's Game Pass subscriptions and the amount of Xbox users - exceeding a "record" 120 million in the quarter, as highlighted by Microsoft's lead communications manager, Frank X. Shaw:
For this same period, Microsoft's overall revenue was $52.7 billion - a 2% increase year-over-year. It follows on from the news last week the tech giant would be axing 10,000 jobs. This includes roles within its Xbox gaming division - with companies like 343 Industries reportedly hit hard by the layoffs. A year later, the company is also still battling to finalise its acquisition of Activision Blizzard.