Today, Microsoft reported its quarterly financial results for the third quarter of the fiscal year. This led to some good news and also some ”meh” news with the good news being that Xbox Game Pass continues to grow.
Satya Nadella, the CEO of Microsoft, revealed during the investors meeting that the popular gaming subscription service has reached over 10 million subscribers. He also mentioned that during the last quarter the company recorded “record levels of engagement.” with about 90 million monthly active users on Xbox Live.
Additionally, Nadella stated that Xcloud actively has “hundreds of thousands” of users while it is still in beta. The streaming service has a wide catalog of games on Android while the iOS version is still pretty bare bones.
While the success of Xbox Game Pass was part of the bright side of the meeting, hardware revenue was not. Xbox hardware revenue was down 20%. Microsoft says that the reasoning behind this was due to recent price decreases in hardware.
Overall, gaming revenue for the company was down 1% year-over-year and Xbox content and services revenue was up 2% with $33 million. Microsoft stated that the increase in Xbox content was an attribute to the shelter in place order that many countries experienced across the world due to COVID-19.
The gaming segment of Microsoft recorded a revenue of $2.35 billion in the third quarter. This was down $14 million compared to last year’s revenue.
It is great to see gamers all over the world are hopping on Xbox Game Pass. The service continues to be one of the best deals in gaming. Even if you do not want to pay full price for the service, there are always buy 3 months, get 3 months free deals on Amazon or eBay that can be taken advantage of. Game Pass continues to stack more and more quality games as the months pass.
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