Xbox Just Set A Revenue Record Dating Back To 2001

Microsoft has released its latest earnings results, and Xbox continues to soar. The technology giant's Xbox division had total revenue of $3.74 billion, which was up 6% year-over-year.

This was the best non-holiday quarter for Xbox in its history, dating back decades. The majority of Xbox revenue came from content and services (81%), as expected, with hardware making up 19% of revenue. As relayed by analyst Daniel Ahmad, content and services at Xbox passed $3 billion for the first time in a Q1 quarter. This might have something to do with the growth and expansion of Game Pass, among others.

Microsoft apparently did not share a new Game Pass subscriber number, however; the latest figure that Microsoft disclosed was 25 million back in January 2022. Microsoft did say, however, that Game Pass members have played "billions" of hours over the past 12 months, up 45%.

"Gaming revenue increased $207 million or 6% on a strong prior year comparable that benefited from Xbox Series X|S launches, driven by growth in Xbox content and services and Xbox Hardware," Microsoft said. "Xbox content and services revenue increased 4% driven by growth in Xbox Game Pass subscriptions and first-party titles, offset in part by a decline in third-party titles. Xbox hardware revenue increased 14% due to continued demand for Xbox Series X|S."

Microsoft said Xbox Series X|S supply has improved since last year and that Microsoft has "taken share globally for two quarters in a row" with Xbox. In fact, Xbox was the market-leader for next-gen consoles this quarter in the US, Canada, UK, and Western Europe, Microsoft said.

Microsoft did not, however, release an official new sales figure for the Xbox Series X|S family of consoles, which is no surprise considering Microsoft no longer announces hard sales numbers for consoles. But Xbox is indeed performing better these days, in part to the simple fact that the systems are easier to find than the rival PlayStation 5, which remains out of stock.

Xbox's cloud gaming service is proving to be popular, too, with more than 10 million people streaming a game via the cloud so far.

Sony will announce PlayStation sales results on May 10, while Nintendo will release its latest sales report that day as well, so keep checking back with GameSpot for more.