Microsoft released their third-quarter earnings for the 2022 fiscal year, with a 20% company-wide growth (totaling $51.7 billion) and a 6% increase for Xbox itself.
Xbox Series S and X have led the “next-generation” console sales, growing 14% possibly due to greater availability than its competitor the PlayStation 5. According to NPD statistics the Xbox consoles led dollar sales for the month of March 2022 and the entire first quarter of the year, while the Nintendo Switch (and its variants the Switch Lite and Switch OLED) stayed as the best-selling console in units sold.
In addition to console sales, some fun statistics have been released for Xbox Cloud Gaming: over 10 million people have used the service, which allows players to stream Game Pass games directly to their computers. Speaking of Game Pass, billions of hours of games have been played on the service; this includes recent tentpole releases such as Halo: Infinite and Forza Horizon 5, both of which released day one on the service.
Trying to fix a disastrous Xbox One generation, the team at Xbox have worked hard purchasing studios (including the $69 billion dollar acquisition of the controversial publisher Activision Blizzard) and building their Game Pass library to make the Xbox ecosystem the “preferred way to play games.” So far it seems to be working out.