Xbox gaming revenue up despite console sales dip, thanks to Game Pass
Microsoft released its Q4 and full-year financial report for fiscal year 2023 overnight, noting a decline in hardware and flat gaming sales.
For the fourth quarter, revenue for the More Personal Computing segment, which houses Xbox, declined by 4% year-over-year (yoy) to $13.9 billion.
Gaming revenue for the segment was lower than expected, coming in rather flat with a 1% yoy increase. Microsoft attributed this to a weak performance in first and third-party content.