Xbox Q3 revenue holds steady against pandemic headwind

0
111

Microsoft has posted its third-quarter earnings for its 2020 fiscal year, reporting increased company-wide revenue to $35 billion, and continued growth across Redmond’s lineup of products and services. For Microsoft’s gaming efforts dominated by Xbox, revenue stays near-flat despite the ongoing global pandemic, reporting relatively consistent performance across its gaming division.

Gaming revenue clocks in with a 1% decline year-over-year, as preparations remain underway for the upcoming generation of Xbox consoles, spearheaded by Xbox Series X. While current world events foster uncertainty across the globe, the Xbox division — and Microsoft as a whole — remains well-positioned throughout Q3.

Best online learning tools for kids: ABCmouse, Reading IQ, & more

Xbox content and services increased 2%, coupled with an uptick in engagement directly attributed to current “stay-at-home guidelines.” While once again partially offset by an unnamed “third-party title,” assumedly Fortnite or Red Dead Redemption 2, investment in subscriptions like Xbox Game Pass continues to support Xbox ahead of a busy holiday season ahead.

With overall revenue up, Microsoft claims “COVID-19 had a minimal net impact on the total company revenue.”

Microsoft is scheduled to provide additional context surrounding Q3 FY20 results, including guidance for its next quarter, during its earnings call at 5:30 PM ET.