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Xbox Reveals Earnings Post-Starfield, and It's (Mostly) Good News
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<blockquote data-quote="Admin" data-source="post: 61116" data-attributes="member: 1"><p>Microsoft has just shared its <a href="https://www.microsoft.com/en-us/investor/earnings/FY-2024-Q1/press-release-webcast" target="_blank">first quarter results for the 2024 fiscal year</a>, and it's mostly good news for Xbox. Following the long-anticipated release of Starfield, Xbox has broadly seen an increase in overall gaming revenue despite a decline in hardware.</p><p></p><p></p><p>In its press release, Microsoft <a href="https://aka.ms/slidesfy24q1" target="_blank">confirmed</a> that Xbox content and services, which include the gaming subscription service Xbox Game Pass, saw a revenue increase of 13% over the last quarter. It is not entirely surprising for those following Xbox, as last month released its most highly anticipated first-party game of the year, <a href="https://www.ign.com/articles/starfield-review" target="_blank">Starfield</a>, which <a href="https://www.ign.com/articles/starfield-hits-10-million-players-in-less-than-three-weeks" target="_blank">hit 10 million players in just three weeks</a>, becoming the biggest launch in Bethesda Game Studios' history. And a few months prior, Microsoft <a href="https://www.ign.com/articles/psa-this-is-your-reminder-that-xbox-game-pass-price-is-rising-tomorrow" target="_blank">slightly increased the price of its gaming service</a>.</p><p></p><p>While no mention of it in the earnings report, it is worth pointing out this is the first earnings report Microsoft has published since it <a href="https://www.ign.com/articles/microsoft-just-bought-activision-blizzard-for-69-billion-so-whats-next" target="_blank">successfully acquired Call of Duty maker Activision Blizzard</a> a few weeks ago, with Microsoft planning to bring a massive catalog of Activision Blizzard games to Xbox Game Pass <a href="https://www.ign.com/articles/phil-spencer-explains-why-there-wont-be-any-activision-games-on-game-pass-in-2023" target="_blank">starting next year</a>.</p><p></p><p></p><p>Unfortunately, not all of it is good news for Xbox earnings-wise, as Microsoft disclosed that Xbox hardware revenue declined by 7%. However, it should be noted that Xbox hardware was not the only thing that decreased, as Microsoft confirmed that devices (such as the Surface products) saw a revenue decline of 22%.</p><p></p><p>While there is no direct explanation for the decline in Xbox hardware sales in the quarter, it is worth pointing out that last month, <a href="https://www.ign.com/articles/all-the-major-revelations-from-the-ftc-vs-xbox-court-document-leaks" target="_blank">several highly confidential documents from Microsoft surfaced online</a>. One of those documents includes Microsoft is planning to release <a href="https://www.ign.com/articles/xbox-series-mid-generation-refresh-consoles-planned-for-2024-release-according-to-court-docs" target="_blank">mid-generation model refreshes</a> of both the Xbox Series X and Series S sometime next year, with <a href="https://www.ign.com/articles/huge-microsoft-leak-reveals-plans-for-2028-next-gen-cloud-hybrid-xbox" target="_blank">a next-generation Xbox console slated to release sometime in 2028</a>.</p><p></p><p></p><p><em>Taylor is a Reporter at IGN. You can follow her on Twitter </em><a href="https://twitter.com/TayNixster" target="_blank"><em>@TayNixster.</em></a></p><p></p><p><a href="https://www.ign.com/articles/xbox-reveals-earnings-post-starfield-and-its-mostly-good-news" target="_blank">Continue reading...</a></p></blockquote><p></p>
[QUOTE="Admin, post: 61116, member: 1"] Microsoft has just shared its [URL='https://www.microsoft.com/en-us/investor/earnings/FY-2024-Q1/press-release-webcast']first quarter results for the 2024 fiscal year[/URL], and it's mostly good news for Xbox. Following the long-anticipated release of Starfield, Xbox has broadly seen an increase in overall gaming revenue despite a decline in hardware. In its press release, Microsoft [URL='https://aka.ms/slidesfy24q1']confirmed[/URL] that Xbox content and services, which include the gaming subscription service Xbox Game Pass, saw a revenue increase of 13% over the last quarter. It is not entirely surprising for those following Xbox, as last month released its most highly anticipated first-party game of the year, [URL='https://www.ign.com/articles/starfield-review']Starfield[/URL], which [URL='https://www.ign.com/articles/starfield-hits-10-million-players-in-less-than-three-weeks']hit 10 million players in just three weeks[/URL], becoming the biggest launch in Bethesda Game Studios' history. And a few months prior, Microsoft [URL='https://www.ign.com/articles/psa-this-is-your-reminder-that-xbox-game-pass-price-is-rising-tomorrow']slightly increased the price of its gaming service[/URL]. While no mention of it in the earnings report, it is worth pointing out this is the first earnings report Microsoft has published since it [URL='https://www.ign.com/articles/microsoft-just-bought-activision-blizzard-for-69-billion-so-whats-next']successfully acquired Call of Duty maker Activision Blizzard[/URL] a few weeks ago, with Microsoft planning to bring a massive catalog of Activision Blizzard games to Xbox Game Pass [URL='https://www.ign.com/articles/phil-spencer-explains-why-there-wont-be-any-activision-games-on-game-pass-in-2023']starting next year[/URL]. Unfortunately, not all of it is good news for Xbox earnings-wise, as Microsoft disclosed that Xbox hardware revenue declined by 7%. However, it should be noted that Xbox hardware was not the only thing that decreased, as Microsoft confirmed that devices (such as the Surface products) saw a revenue decline of 22%. While there is no direct explanation for the decline in Xbox hardware sales in the quarter, it is worth pointing out that last month, [URL='https://www.ign.com/articles/all-the-major-revelations-from-the-ftc-vs-xbox-court-document-leaks']several highly confidential documents from Microsoft surfaced online[/URL]. One of those documents includes Microsoft is planning to release [URL='https://www.ign.com/articles/xbox-series-mid-generation-refresh-consoles-planned-for-2024-release-according-to-court-docs']mid-generation model refreshes[/URL] of both the Xbox Series X and Series S sometime next year, with [URL='https://www.ign.com/articles/huge-microsoft-leak-reveals-plans-for-2028-next-gen-cloud-hybrid-xbox']a next-generation Xbox console slated to release sometime in 2028[/URL]. [I]Taylor is a Reporter at IGN. You can follow her on Twitter [/I][URL='https://twitter.com/TayNixster'][I]@TayNixster.[/I][/URL] [url="https://www.ign.com/articles/xbox-reveals-earnings-post-starfield-and-its-mostly-good-news"]Continue reading...[/url] [/QUOTE]
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Xbox Reveals Earnings Post-Starfield, and It's (Mostly) Good News
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