Microsoft has released its latest earnings report, showing mixed results for the Xbox division. Its total gaming revenue fell, but the monthly active users for Xbox reached a new third-quarter record.
Xbox’s gaming revenue dropped 4% across the board, with hardware sales being struck particularly hard–decreasing by a whopping 30%. Microsoft said the downturn in hardware sales was attributed in part to a comparison with Q3 2022, which Microsoft said benefited from “increased console supply.”
With Xbox’s back in stock everywhere, sales are slowing. However, Xbox’s content and revenue services increased by a marginal 3% during the quarter, thanks to growth in Xbox Game Pass subscriptions. Microsoft did not share subscriber numbers in this report, and hasn’t since they hit 25 million members back in January 2022.
Microsoft CEO Satya Nadella said Microsoft achieved third-quarter records for monthly active users and monthly active devices for Xbox, according to The Verge. Of course, Microsoft is a massive tech company with various business divisions outside of Xbox. In total, Microsoft brought in $52.9 billion in revenue, with a profit of $18.3 billion.
A short 12 hours after Microsoft announced this earnings report, the UK’s Competition & Markets Authority announced it’s blockage of the Microsoft/Activision Blizzard deal.