Microsoft Expects Xbox Gaming Sales To Slide Further Due To Decline In First-Party Content
Xbox hardware revenue declined 11 percent and 8 percent in constant currency.
New Delhi: The craze for gaming on Xbox consoles is diminishing as Microsoft now expects revenue to decline in the low to mid-single digits, driven by declines in first-party gaming content on Xbox.
In its June quarter, gaming revenue declined 7 percent and 5 percent in constant currency, in line with expectations.
"Xbox hardware revenue declined 11 percent and 8 percent in constant currency," informed Amy Hood, Executive Vice President and CFO at Microsoft.
"Xbox content and services revenue declined 6 percent and 4 percent in constant currency, driven by lower engagement hours and monetisation in third-party and first-party content, partially offset by growth in Xbox Game Pass subscriptions," Hood told analyst during the quarterly earnings call late on Tuesday.
Microsoft Chairman and CEO Satya Nadella said that with Xbox Cloud Gaming, the company is bringing games to new endpoints.
ALSO SEE: FIFA 23 Release Date Set For September 30, To Feature Women’s Club Football For The First Time Ever
"Players now can stream Xbox games on Samsung Smart TVs. And we partnered with Epic Games to make Fortnite available for free via the browser. Over four million people have streamed the game to date, including over one million who were new to our ecosystem," he informed.
Microsoft's Xbox Game Pass subscription service includes access to hundreds of games, and Xbox Series S is the most affordable next-generation console.
"We sold more consoles live to date than any previous generation of Xbox and have been the market leader in North America for three quarters in a row amongst next-gen consoles," Nadella added.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
Top Headlines
Trending News
