Microsoft has announced Xbox’s Q3 earnings as part of their Third Quarter Results showing impressive growth fueled by the cloud market.
“Xbox content and services revenue increased 34% (up 32% in constant currency)” Microsoft’s press release touts, showing the substantial growth that Xbox has seen.
These results have been driven by “strength from third-party titles, Xbox Game Pass subscriptions, and first-party titles” which has lead to a 50% overall increase in gaming revenue.
On top of this, Xbox hardware revenue has grown by 232% (223% in constant currency) which is driven by “continued demand for the Xbox Series X|S” since launch.
Microsoft cloud is more than just xCloud and their gaming services such as Xbox Cloud Gaming, but as these platforms grow, they will no doubt see Microsoft’s earnings soar even higher.
It’s no surprise that Microsoft is doing this well, with recent acquisitions, and attempted acquisitions showing their buying power.
While Microsoft has failed to acquire Discord with an offer of $10 Billion, for now at least, they did successfully acquire Zenimax Media, the parent company of Bethesda and all its subsidiary studios.
With the acquisition adding many of Bethesda’s titles to Xbox Game Pass, with plenty more to come in the future, this has undoubtedly caused some of the success’ Microsoft has reported.