Microsoft has a lot to celebrate this year, financially. For the fourth financial quarter (ending June 30, 2023), Microsoft reported year over year growth. Compared to last year, gaming revenue increased $36 million (1%) and Game Pass hours played increased by 22%
In an earnings call late last night, Microsoft CEO Satya Nadella said that :
“We set new fourth quarter highs for monthly active users driven by strength off console as well monthly active devices. And we saw record fourth quarter engagement across Game Pass, with hours played up 22% year-over-year.”
Microsoft reports ‘second best’ Q4 and full-year for Xbox revenue | VGC (videogameschronicle.com)
It’s not all great news, though, as Microsoft saw hardware sales drop 13% over the same period. This is an indication that , hardware wise, Microsoft’s acknowledgement of losing the “console wars” earlier this year was accurate.