Xbox has "work to do" as console sales drop 33% in Q3
Xbox reported a 33% drop in console sales and a 7% decline in overall gaming revenue for Microsoft's fiscal third quarter, with content and services revenue also falling despite record monthly active users. New Xbox leadership acknowledged the company's performance has not met ambitions and emphasized the need for improvement in player engagement and pricing strategies. Looking ahead, Microsoft expects further revenue declines in Q4 due to a Game Pass price reduction and ongoing challenges in hardware sales.
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Xbox continues to perform poorly, with Microsoft on Wednesday reporting a 33% plunge in console sales in its fiscal third quarter.Gaming revenue overall dropped 7%, or $380 million, in the quarter, and Xbox content and services revenue — which includes Game Pass, digital game sales, and downloadable content — fell 5%. While the company said it “set new records for monthly Xbox active users in the quarter,” new Xbox chief Asha Sharma said growth hasn’t matched ambition.Xbox earnings today. While we have made progress expanding the business and our margins, player and revenue growth has not yet met our ambition.
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