Published , by Bill Lavoy
Published , by Bill Lavoy
Microsoft (MSFT) reported its Q3 2024 earnings results today. The company reported beats on revenue and earnings per share expectations. Despite overall positive results, Xbox revenue was down 30 percent from Q2 2023.
Microsoft reported its troubling Xbox hardware sales to its investor relations website. Specifically, on slide 14 of the Earnings Call Slides, under Gaming, the company stated that, “Xbox hardware revenue declined 31% (down 30% constant currency). This is the second straight year that Xbox hardware revenue has declined by a substantial amount. In Q3 2023, Xbox hardware revenue declined by 30%. It should be noted, however, that these declines both follow quarters that include holidays.
Unfortunately, unlike both Sony and Nintendo, Microsoft does not directly report Xbox console sales. Because of this, we don’t truly know how many Xbox consoles have been sold. The revenue percentages are our only tell, and they don’t look great.
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