Microsoft has released its latest income statement and among its findings are some new numbers and data regarding the Xbox brand. Overall, Microsoft’s gaming revenue grew 16%. Hardware sales posted the largest growth, up 166%, thanks to “continued demand” for the Xbox Series X and S consoles.
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In addition, Xbox content and services revenues were up 2%. Microsoft noted an increase in Xbox Game Pass subscriptions during this period, although the company hasn’t announced new numbers. Microsoft last announced the number of subscribers in January 2021 (18 million). Most recently, Microsoft announced that the number of Xbox Game Pass subscribers hasn’t grown as much as expected.
Growth in revenue from Xbox content and services was also positively impacted by first-person gaming, but this was offset by “declining sales of third-party games,” Microsoft said, although it did not name any directly.
Game Pass may have 30 million users, according to Take-Two Strauss CEO Zelnick, but Xbox boss Phil Spencer denied that claim.
When asked about profit and loss, Microsoft CEO Satya Nadella said the Xbox division had set monetization and engagement records during this period. He added that growth is expected in the future with the launch of several key games including Halo Infinite and Forza Horizon 5, as well as the expansion of Xbox Cloud Gaming. Nadella also talked about how many developers are using Microsoft Azure services, including Bungie and Krafton.
Microsoft is a giant company, and games are just one segment of it. Overall, Microsoft’s revenue for the quarter ended September 30 was $ 45.3 billion (+ 22%). In terms of revenue, Microsoft made a profit of $ 20.5 billion.
Xbox boss Phil Spencer recently talked about Microsoft’s plans to acquire even more game studios in the future. “We’re definitely not done yet,” Spencer said. “There is no quota or schedule when I have to buy studios by a certain time, but if we find a studio that suits us … absolutely.”
Game Pass will see even more growth soon, with Forza Horizon 5 and Halo Infinite coming out in the next couple of months.