Microsoft has revealed its latest financial earnings for Q3 and it looks like things are looking up thanks to the release of the Xbox Series X and Xbox Series S.
With an increase of 232% in gaming hardware revenue, the likely reason is the release of two new consoles in November 2020. In total, Microsoft is reporting a 50% year-over-year increase thanks to both consoles, Series X and Series S.
Microsoft reported gaming revenue of $3.53bn for the quarter ending Mar 31, 2021, up 50% YoY.
Xbox content & services revenue up 34% YoY, driven by strong software sales + Game Pass growth
Xbox hardware was up 232% YoY due to Series X | S demand + favorable comp vs last year pic.twitter.com/D8QtQ24Xj5
— Daniel Ahmad (@ZhugeEX) April 27, 2021
In total, that 50% translates to a whopping 3.53 billion in revenue for the quarter ending on March 31, 2021. This is the best Q1 for Microsoft’s gaming division since the numbers began being released six years ago. Furthermore, sales of both ZeniMax subsidiaries and the continued success of Xbox Game Pass have done a number for Microsoft, as well as first-party titles.
And to the surprise of no one, Microsoft’s Minecraft continues to impress. Active users continue to rise, with the latest reporting showing a massive increase of 30% year-over-year, bringing the player base up to 140 million users. This has helped Microsoft drive to $350 million in revenue thanks to the mods community and downloadable content available.
