Microsoft has shared its financial report for the fourth quarter of the 2023 fiscal year. The earnings report reveals some interesting bits of information in regard to how well Xbox is doing, and simply put, it's positive.
While Xbox console sales dropped by 13% over the last quarter, Game Pass and growth in the Xbox content and services sector showed enough of an increase to ensure that Microsoft's overall gaming revenue for the quarter increased by 1%.
Specifically, in an earnings call, Microsoft CEO Satya Nadella stated, "All-up, we set new fourth quarter highs for monthly active users, driven by strength off-console, as well as monthly active devices. And we saw record fourth quarter engagement across Game Pass, with hours played up 22% year-over-year."
With a lot of major titles promised for the current fiscal year, no doubt Microsoft will be aiming for a more significant increase in revenue, especially if it manages to close the mega $68.7 billion acquisition of Activision Blizzard and then likely bring the publisher's games to Game Pass.