Microsoft has released its financial information for the fourth quarter of its fiscal year 2023, reporting $56.2 billion in revenue, an eight percent increase. In addition, net income has also increased by 20% to $20.1 billion.
Revenue from the Xbox system hardware dropped by 13%. Although Microsoft had anticipated low- to mid-teens in this area, revenue from Xbox content and services like Game Pass is up 5%. Overall gaming revenue has increased by 1%.
The Verge reports that CFO Amy Hood blamed the current numbers on “weakness in first-party and third-party content performance” during an earnings call. But interesting is that Microsoft CEO Satya Nadella reported a 22 percent increase in hours played on Game Pass. However, they did not give a update on the subscription numbers. But they haven’t done so since announcing 25 million subscribers in January 2022.
Maybe with the releases of Starfield and Forza Motorsport this fiscal year, things can turn around for Microsoft.
Microsoft FY 2023 Call:
CEO Nadella says Xbox set Q4 records for:
MAUs
"Monthly Active Devices"
"Engagement" on Game Pass, hours played up 22%.Not many details.
And, no mention of Xbox Series X|S being fastest-selling Xbox ever, so.. yea, I assume that's no longer the case. pic.twitter.com/dvyGa1YKOY
— Dom (@DomsPlaying) July 25, 2023
