Microsoft has just released its results for the third quarter (January-March) of its 2023 fiscal year, and as usual with this company, it’s absolutely raining money. A lot of money. Total revenue was $52.9 billion, and $18.3 billion of that was profit. This means Microsoft earned nearly a third of Activision Blizzard’s price tag in just three months.
Unfortunately, however, Xbox is not a major factor in this context, and the results were somewhat mixed. It turns out that game revenue is down 4% compared to the same quarter last year, but it’s still the second best result for this period that the Xbox division has ever had. Xbox hardware was particularly hard hit, falling 30%, while content and services (which includes Game Pass) increased 3%.
Going forward, Microsoft seems to be more positive as new and hot titles approach launch day. CFO Amy Hood says the company expects revenue growth of “mid to high single digits” during April-June, as well as “low to mid teens Xbox content and services revenue growth” (new games make people get Game Pass).
Nintendo and Sony are expected to deliver their results in the coming weeks.
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