Despite ongoing Xbox Series X and Xbox Series S shortages, Microsoft's first-quarter earnings report of 2022 revealed its total gaming revenue was up 16% compared to the previous fiscal year, and it's all thanks to Xbox hardware revenue.
According to Microsoft, demand for the Xbox Series X|S contributed to Xbox hardware revenue increasing by 166%, with CEO Satya Nadella stating that the gaming division saw "record first-quarter monetization and engagement." As for the popular Xbox Game Pass and other services, revenue was up by 2% as "growth in Xbox Game Pass subscriptions and first-party titles partially offset by declines from third-party titles."
- See the best PC games and best Xbox Game Pass PC games to play now
- Best Xbox Series X games in 2021: The best Xbox games out now
- Best gaming deals in 2021
Due to next-generation console shortages and restock issues, demand for the Xbox Series X|S has been strong throughout the year, especially when compared to the limited stock available when the console first launched back in November 2020. Microsoft's gaming division expects its growth to continue, with exclusive games and Triple-A titles via Xbox Game Pass as its winning ticket.
Nadella claims: "This holiday season will bring our biggest line-up of content and exclusive games ever, with three new triple-A titles including Halo Infinite available via the Xbox Game Pass subscription service."
Further to this, CFO Amy Hood expects Xbox content and services "revenue growth in the mid-teens with strong engagement on the Xbox platform in a holiday quarter that will include several triple-A title launches.” Things are looking up for Xbox once Halo Infinite drops on December 8.
There are a number of exclusive Xbox titles expected to arrive over the next year, including Forza Horizon 5, Starfield, Redfall, Senua’s Saga: Hellblade II and more. Who knows, once the rumored Elder Scrolls 6 is officially confirmed, revenue could continue to soar.
Stay in the know with Laptop Mag
Get our in-depth reviews, helpful tips, great deals, and the biggest news stories delivered to your inbox.
Darragh Murphy is fascinated by all things bizarre, which usually leads to assorted coverage varying from washing machines designed for AirPods to the mischievous world of cyberattacks. Whether it's connecting Scar from The Lion King to two-factor authentication or turning his love for gadgets into a fabricated rap battle from 8 Mile, he believes there’s always a quirky spin to be made. With a Master’s degree in Magazine Journalism from The University of Sheffield, along with short stints at Kerrang! and Exposed Magazine, Darragh started his career writing about the tech industry at Time Out Dubai and ShortList Dubai, covering everything from the latest iPhone models and Huawei laptops to massive Esports events in the Middle East. Now, he can be found proudly diving into gaming, gadgets, and letting readers know the joys of docking stations for Laptop Mag.