Green(ish) Light
Microsoft hasreleased its financial detailsfor the first quarter of its fiscal year — While the statistics are something of a mixed bag, it has been a significant, positive season for the Xbox brand, with strong hardware sales leading to an overall revenue increase of around 11% year-on-year.
The continuing economic slump has been tough on Microsoft, which has seen a decline in many of its sectors. Revenue for operating software Windows dropped by a mighty 15%, while Xbox game sales were also down by a much more manageable 3%. The drop in game sales is likely due to the worldwide cost of living crisis, as well as an increased interest in subscription serviceXbox Game Pass. Thus, even if Xbox game sales are down, there is something to be said for Game Pass’ growth.
Of course, the more negative elements of the report are hardly about to bankrupt the company. Microsoft’s overall revenue for the period still totals somewhere in the region of $50 billion USD, while its net income, even with a huge 14% drop, still saw the company pull in around $17.6 billion. MS is not going to be scratching for change anytime soon.
It should also be noted that the publisher recentlylaid off hundreds of employeesacross its entire workforce. Additionally, MS remains adamant in seeking approval for its$68.7 billion acquisitionof Activision Blizzard.
