Xbox revenue plunges $1.7bn, with hardware dropping 29% YoY
Microsoft's latest financial results reveal a significant 7% year-on-year decline in Xbox revenue for the full year and 10% in the fourth quarter, primarily driven by a 29% drop in hardware sales. Despite growth in Game Pass, content and services revenue also fell by 10%. The company announced widespread layoffs affecting 4,800 roles, including 1,600 at Xbox, as part of a restructuring aimed at long-term growth, with several studios transitioning to new management or becoming independent.
- Entities
- Company: Arkane Leon
- Topic: Company Restructuring
- Company: Microsoft
- Company: Ninja Theory
- Game: Game Pass
- Topic: Financial Results
- Person: Satya Nadella
- Topic: Layoffs
- Company: Compulsion Games
- Company: Activision Blizzard
- Company: Undead Labs
- Company: Xbox
- Topic: Hardware Sales
- Platform: Xbox Series X
- Platform: Xbox Series S
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