Xbox gaming revenue down 13% amid lack of major releases
Highlights of the story
- Xbox suffered a year-over-year decline in gaming revenue, which fell 13% from $5.44 billion to $4.76 billion.
- Xbox content and services revenue was down 12 percent overall
- Microsoft expects another year-over-year decline in the next quarter.
Less than a week after announcing 10,000 layoffs, Microsoft has released its latest release. Income report For the quarter ended 31st December. In addition to a 13 percent drop in gaming revenue, the tech giant reported a decline in overall revenue.
Microsoft’s gaming division finally appears to be slowing down a bit after a few years of impressive gaming revenue growth thanks to sales of the Xbox Series X and S. While the decline is to be expected, the absence of major first-party game releases doesn’t exactly make things better.
Xbox suffered a year-over-year loss in gaming revenue for the first time, falling 13% from $5.44 billion to $4.76 billion. Additionally, it appears that Xbox content and services revenue declined by 12%, explained by “Increase in Xbox Game Pass subscriptions.
other than that, It was announced that Xbox has increased Xbox Game Pass subscriptions, active gaming hours, and monthly active devices, setting a new corporate record. 120 million monthly active users.
Microsoft CEO Satya Nadella said,
We saw new highs for Game Pass subscriptions, game streaming hours, and monthly active devices. And monthly active users crossed a record 120 million during the quarter.
Overall, revenue is expected to decline due to high demand for the less available Series X and S consoles and the absence of major game releases for them. Microsoft expects another year-over-year decline in the next quarter due to a similar situation due to a strong prior-year comparison and fewer releases.
Have you bought any Xbox games in the last quarter? Let us know in the comments below, and stay up to date with eXputer for more gaming news!
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