Microsoft Financials: Profits Up, Revenues Down as Xbox Sales Slide
Consumers eager to hear about the next Xbox now.
Microsoft's quarterly financials are in, and it seems that the Xbox is losing steam ahead of a formal announcement of its successor later this year. In the last three months of 2012, 5.9 million Xbox 360s were shipped, down from 8.2 million during the same time last year.
The company also made $1.1 billion less than it did last year - a 29 per cent drop. According to a statement from Microsoft, this was "due mainly to lower volumes of consoles sold and lower video game revenue."
In general, the Entertainment and Devices Division - which includes Xbox development - saw profits up and revenues down. The former was due to a reduction in marketing costs, and the latter was a consequence of sliding demand for the Xbox 360 console. The division generated $3.8 billion in revenue, down 11 per cent from last year.
Good job there's a new Xbox coming (hopefully) soon, right?
The company also made $1.1 billion less than it did last year - a 29 per cent drop. According to a statement from Microsoft, this was "due mainly to lower volumes of consoles sold and lower video game revenue."
In general, the Entertainment and Devices Division - which includes Xbox development - saw profits up and revenues down. The former was due to a reduction in marketing costs, and the latter was a consequence of sliding demand for the Xbox 360 console. The division generated $3.8 billion in revenue, down 11 per cent from last year.
Good job there's a new Xbox coming (hopefully) soon, right?
Companies:
Microsoft
Read More Like This