Xbox gaming revenue up despite dip in console sales thanks to Game Pass

Microsoft launched its This autumn and full-year monetary report for fiscal yr 2023 in a single day, noting a decline in {hardware} and flat gaming gross sales.

For the fourth quarter, income for the Extra Private Computing phase, which homes Xbox, declined by 4% year-over-year (yoy) to $13.9 billion.

Gaming income for the phase was decrease than anticipated, coming in slightly flat with a 1% yoy enhance. Microsoft attributed this to a weak efficiency in first and third-party content material.

Nevertheless, Xbox content material and companies income grew 5% yoy attributable to Recreation Cross and gross sales of third-party content material.

Participant hours have been up 22% for Recreation Cross, and month-to-month energetic customers for Xbox hit a document quantity throughout the quarter.

Gross sales of Xbox consoles have been down throughout This autumn, with income declining by 13% yoy.

As a complete, Microsoft reported complete income of $56.2 billion, up 8% yoy. For the total yr, Microsoft reported $211.9 billion in income, up 11% yoy.