Microsoft (MSFT) Q3 2022 showed growth for Xbox hardware, software & services revenue
Microsoft's Q3 2022 earnings report revealed growth for Xbox and the rest of its gaming business.
Microsoft (MSFT) released its Q3 2022 earnings report earlier today, detailing its financial performance over the past fiscal quarter. Although its numbers weren’t jaw-dropping, they were good enough to surpass expectations for both revenue and earnings-per-share. In an extended presentation, Microsoft spoke specifically to the performance of Xbox and its gaming business within the quarter, showing growth in revenue for both.
It was in a PowerPoint presentation released alongside Microsoft’s (MSFT) Q3 2022 earnings report that the company detailed the performance of Xbox as well as the rest of its gaming business in Q3 2022. Gaming revenue for the company was up 6% over the past quarter, with revenue from Xbox hardware up 14% over that same period. As Microsoft continues to get more Xbox Series X/S consoles out in the wild to meet demand, it’s seeing growth in its hardware revenue.
Microsoft also announced the ongoing success of Xbox Game Pass in the report. “Xbox content and services revenue grew 4% (up 6% CC) on a strong prior year comparable, with growth in Xbox Game Pass subscriptions and first-party titles partially offset by declines from third-party titles.” Xbox Game Pass subscriptions continued to grow throughout the quarter, despite the lack of any major first-party Xbox releases.
Though Microsoft (MSFT) didn’t have an overwhelmingly impressive quarter, the ongoing success of Xbox and the company’s gaming business is certainly something to take note of. A more detailed breakdown of how Microsoft performed over the latest fiscal period can be found in its Q3 2022 earnings report. For the most interesting stories on the entertainment and technology side of the business world, stick with Shacknews.
Donovan Erskine posted a new article, Microsoft (MSFT) Q3 2022 showed growth for Xbox hardware, software & services revenue