Microsoft has unveiled its Xbox fiscal year 2023 Q2 report, which shows a different picture: the Xbox gaming revenue has decreased by 13%, as hardware sales have decreased equally.
The report itself contains a lot to chew on, but what we're really looking at is the gaming aspect of things, which Microsoft has made known.
- Gaming revenue declined 13% (down 9% CC)
- Xbox content and services revenue declined 12% (down 8% CC) on a strong prior year comparable, with declines in first-party content and lower monetization in third-party content, partially offset by growth in Xbox Game Pass subscriptions
- Xbox hardware revenue declined 13% (down 9%)
Microsoft's gaming division suffered a slew of losses, as did the recent mass layoffs that occurred just a few days ago. Even tech giants Google and Nvidia have raised concerns about the potential buyout.
Tomorrow's Developer Direct with Bethesda will hopefully assist in alleviating some of the company's issues.