Microsoft released its earnings report for the first quarter of fiscal 2023, which ended September 30, 2022. In this context, Xbox game revenues increased from $ 3.59 billion to $ 3.61 billion annually. This is the best September quarter ever in terms of gaming revenue for Xbox.
In addition, Xbox Content & Services revenue fell by three percent. The reason for this is “a higher monetization system with lower engagement hours,” it said. This decline was partially offset by an increase in the number of Xbox Game Pass subscriptions. In addition, Xbox hardware sales increased by 13 percent year-over-year.
Overall, Microsoft reported an 11 percent year-over-year increase of $50.12 billion, while net revenue fell 14 percent to $17.56 billion.