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Microsoft has released its earnings report for the first quarter of the 2023 fiscal year, which ended up September 30, 2022.
Xbox gaming revenue increased “slightly” (less than one percent) year-on-year from $3.59 billion to $3.61 billion. This is the best September quarter ever for Xbox in terms of revenue.
Xbox Content & Services revenue decreased three percent. This was due to “declines in first-party content and third-party content, with lower engagement hours and higher monetization.” This drop was partially offset by growth in the number of Xbox Game Pass subscriptions.
Xbox hardware revenue grew 13 percent year-over-year.
Overall, Microsoft reported revenue up 11 percent year-over-year to $50.12 billion and net income down 14 percent to $17.56 billion.
The latest VGChartz estimates put Xbox Series X|S sell-through at 17.51 million as of October 15, 2022. The Xbox Series X|S continues to be the fastest-selling Xbox console generation ever as it is tracking ahead of the original Xbox, Xbox 360, and Xbox One.
A life-long and avid gamer, William D’Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.