Tue. Dec 7th, 2021

Xbox Series SSource: Matt Brown | Windows Central

Microsoft on Tuesday announced its first-quarter earnings for fiscal year 2022, reporting a 22% increase in the company’s total revenue to $ 45.3 billion. It also showed a 16% increase in gaming revenue, signaling continued year-on-year growth for its Xbox brand.

Xbox content and services saw a 2% year-over-year increase, due to growth in their Xbox Game Pass subscription service and internal first-party titles. This increase follows a strong previous fiscal year attributed to the COVID-19 pandemic, where Xbox services grew by 30% due to an increase in demand for digital entertainment. Revenue from third-party titles decreased during the period.

Microsoft also announced a 166% year-over-year increase in Xbox hardware revenue, driven by its latest generation of consoles, the Xbox Series X and Xbox Series S. This is comparable to a decline in Xbox One console sales throughout the first quarter of 2021 accounts. years before the launch of their Xbox consoles in November.

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These latest figures follow the latest reports that Microsoft did not reach its Xbox Game Pass subscriber target and achieved a growth of 37.45% compared to its target of 47.79% in the financial year 2021. The figures, published via a recent SEC file, is among several performance goals for top executives at Microsoft. The latest official number on the Xbox Game Pass service confirmed 18 million subscribers in January 2021.

The Xbox Game Pass continues to represent a new revenue opportunity for Microsoft, bringing members to their console and PC services and serving hundreds of games for a fixed monthly fee. The Xbox Game Pass Ultimate service also offers perks like cloud games, streaming of full Xbox titles to iOS and Android mobile devices. But with blockbusters like Halo Infinite and Forza Horizon 5 yet to come, future opportunities are ahead for their services.

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