November 11th, 2020, 19:58 Posted By: wraggster
Microsoft closed Q1 of its 2021 fiscal year with plenty to say about the ongoing financial success of its cloud offerings, but not much of note on the gaming front.
For Q1 ending September 30, 2020, the company's 'More Personal Computing' business segment saw $11.8 billion in revenue, up 6% year-over-year.
This segment includes gaming and a few other categories such as Windows and Surface revenue, though gaming was one of two stated major revenue drivers this quarter.
Xbox content and services revenue was up 30% or $649 million, which Microsoft says was driven mainly by third-party, first-party, and Game Pass -- essentially everything but hardware, which is both unsurprising due to it being the final quarter before the next console generation but also notable due to Microsoft's explicit mention of a 49% year-over-year rise in hardware revenue last quarter.
In fact, per Microsoft's 10-Q form filed shortly after the results, Xbox content and services revenue drove an increase in overall gaming revenue, but was offset by a 27% drop in hardware revenue.
It is worth pointing out while Xbox Series S and X pre-orders opened just prior to the close of the quarter, the sales have not yet been completed and thus would not be factored into revenue calculations until next quarter.
Gaming revenue grew $550 million, or 22%, year-over-year, which when calculated using numbers from the company's 10-Q for the previous year brings total gaming revenue for the quarter to approximately $3.1 billion.
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