While Microsoft might be having some challenges leading to “hundreds” of staff layoffs, their gaming/Xbox division has done very well for itself as the company.
The company published its Q1 earnings report for the fiscal year 2023. It showed that the Xbox division had earned more than any other period in its history.
Analyst for the game industry @DomsPlaying Their earnings call was broken down by their analysts, who noted that Xbox had sold approximately $3.63 billion this quarter, a new record for Microsoft’s Q1. The results also showed that hardware sales increased by 13% which was significantly higher than initially forecast.
It is important that the company did not achieve all growth. They reported a decline in Xbox content and services of 3% despite an increase in Xbox Game Pass members. It is encouraging that hardware sales are improving for the company, as they are often behind their competitors when it comes down to console sales.
The company as a whole looked fantastic in Q1. The company’s total revenue was just over $50 billion, an increase of 11%. The operating income increased 6% to $21.5 billion.
If you are more interested in the numbers, please visit their earnings call linked above. Microsoft, a publicly traded company is required to disclose this information to investors in order to provide them with important information to help them make informed investment decisions.