Microsoft has just revealed its earnings report for the last quarter. A few months back, the gaming giant revealed that it was expecting record-breaking numbers for Xbox in Q1 FY24 due to Starfield.
After a massive launch and 10 million players, Starfield appears to have delivered exactly what Microsoft wanted. Xbox has reported a 9% increase in gaming revenue over the last quarter, making this the gaming giant’s best Q1 result to date.
Why it matters: The Xbox brand has not witnessed the same growth as rivals like PlayStation and Nintendo. However, Starfield has given the gaming giant the breakthrough it needed.
Microsoft cites the growth in first-party games and Xbox Game Pass for the gaming division’s impressive revenue. Shockingly, however, hardware sales continued to decline last quarter.
Even with Starfield being the best-selling game of September in regions like the US, Microsoft was unable to capitalize on this release for hardware sales, with Xbox Series S|X last reported to have sold around 21 million units.
These results indicate why Microsoft is more focused on growing Xbox as an ecosystem compared to a console brand. According to reports, Starfield sold most of its copies on PC, but the end result has helped the whole ecosystem.
Nonetheless, this is still a fantastic result for Microsoft. As noted earlier, this is a new record for the company, leading to a revenue of over $3.9 billion, rivaling a few of the best holiday quarters for the gaming giant.
Xbox has been on a winning streak, and these results mark just one of the many recent wins for the gaming giant.
We believe such results will promote more competition in the industry, and we are happy to see Microsoft finally beginning to see results after years of working toward a healthy gaming business.
With Activision Blizzard owned by Microsoft, the company’s next quarter is expected to be even better. The publisher is gearing up to release Modern Warfare 3 next month, which will likely be one of 2023’s biggest releases. Therefore, it appears the best is yet to come for the gaming giant.
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