Game division Microsoft reports significant growth in quarterly revenue. Due to the high demand for consoles Xbox Series X | S indicators exceeded all expectations.
On Tuesday, the company released results for its fiscal fourth quarter ended June 30, 2023, and revealed that the gaming division’s quarterly revenue was up 11% ($ 357 million in monetary terms) over the same period last year.
The increase in the number of subscribers and loyalty to projects from internal studios did not help the platform owner increase revenue for the content and services segment, which decreased by 4% ($ 128 million in monetary terms).
Total iron supply revenue grew 172% due to the high price and quantity of Xbox Series X | S consoles sold since the November 2023 launch.
According to NPD Group, Xbox Series X | S became the most profitable platform in the US in June. Microsoft set a new record for Xbox sales in monetary terms in that month, beating the previous 2011 high.
Microsoft CEO Satya Nadella called the Xbox Series X | S the “fastest selling consoles” in Xbox history.
Microsoft CEO @satyanadella on Xbox / gaming. “We’re all in on games. The Xbox Series S and X are our fastest selling consoles ever, with more consoles sold life-to-date than any previous generation.”
– Tom Warren (@tomwarren) July 27, 2023
Financial performance of the entire Microsoft Corporation for the fourth quarter:
- Revenue – $ 46.2 billion (+ 21% compared to the same period a year earlier)
- Operating income – $ 19.1 billion (+ 42%)
- Net profit – $ 16.5 billion (+ 47%)
- Earnings per share – $ 2.17 vs. forecasted $ 1.92 (+ 49%)
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