Xbox Series X|S Sales Boot Microsoft’s Record Earnings
Microsoft has posted record profits this quarter, including a boom in its gaming sector which has revenues up 51%. The company as a whole posted a record-breaking $43.1 billion in revenue.
In the most recent financial earnings report for the period ending on December 31, 2020, Microsoft shared that revenue increased by 17% to reach $43.1 billion and $15 billion in profit.
As per the case for the last several quarters, profits were driven by Microsoft’s cloud platform, but that doesn’t mean there weren’t other successful ventures.
[widget path=”global/article/imagegallery” parameters=”albumSlug=confirmed-xbox-series-x-games&captions=true”]
Hardware saw the biggest growth thanks to the launch of the Xbox Series X|S. Microsoft says the gaming hardware segment grew 86% thanks to the new hardware, though the company hasn’t shared exact numbers.
Meanwhile, Microsoft reported that revenue has grown 51% overall in games, with Xbox content and services revenue up 40%. The growth has been attributed to third-party titles, Xbox Game Pass subscriptions, and first-party titles.
News of Microsoft’s successful quarter has pushed up Microsoft stock. The success of the company is of course based on a broad array of product and offerings, not just gaming. Microsoft’s line encompasses software, apps, home computers, and more; while the R&D department dabbles in projects like putting servers underwater.
Matt T.M. Kim is a reporter for IGN. You can reach him @lawoftd on Twitter.