50% increase for the green-and-black brand
Microsoft has released its latest financial results for its most recent quarter, and things are most assuredly looking up in The House of Xbox. Overall gaming revenue has been boosted by 50% year-on-year, driven by the launch of its next-gen hardware, Xbox Series X/S.
The 50% increase translates to an overall draw of $3.53 billion USD, as noted by analyst Daniel Ahmad. While Microsoft did not reveal specific figures regarding the sales of the new console platforms, it has stated that “demand significantly exceeded supply”, which makes for a great soundbite from a corporate standpoint, but undeniably sucks for customers.
The huge numbers include revenue gained from the sales of Xbox hardware and first-person software, as well as Xbox Game Pass subscriptions, Xbox Live Gold purchases and, importantly, revenue gained via ZeniMax subsidiaries — such as games developed by Bethesda Softworks. This latter factor alone places a large stake in Xbox Content & Services revenue, which increased 34% on the previous year.
Looking ahead, Xbox hopes to see its good fortunes continue. There’s no denying that the brand has started the ninth generation in a stronger position — financially and reputation-wise — than the controversy that plagued the launch of Xbox One in the previous generation. Microsoft warns, however, that it expects Xbox Series X/S availability to be “constrained” for the coming months, as both Xbox and PlayStation struggle to get more stock onto store shelves and, ultimately, into the hands of the players.