Xbox delivers record-breaking Q3 with $5.721 billion revenue

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Microsoft's latest Q3 results are in, and it's good news for Xbox.

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Today, Microsoft announced its Q3'FY25 earnings results, showing a strong uptick in games earnings during a particularly slow time of the year for gaming. Throughout the Q3 period, which took place from Jan 1 - March 31, 2025, Xbox generated $5.721 billion in total revenue. That makes Q3'25 a record-breaking third quarter for Xbox.

Xbox gaming earnings were up +5% year-over-year, or $270 million, over last year's results, delivering a total of $5.721 billion. Content and services led this increase with a +8% year-over-year jump, driven by growth in Xbox Game Pass, Call of Duty, and Minecraft, two of Microsoft's franchises. There was no other real information about the gaming segment in the reports and we may get more information from Satya Nadella and Microsoft management during the earnings call.

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• More Personal Computing - Revenue increased $767 million or 6%.
• Gaming revenue increased $270 million or 5% driven by growth in Xbox content and services. Xbox content and services revenue increased 8% driven by growth in Xbox Game Pass, Call of Duty, and Minecraft. Xbox hardware revenue decreased 6%.

Another interesting thing to note: This bring's Xbox's total 9-month earnings to a staggering $17.923 billion, which is more money than Xbox used to make in a full year. This clearly illustrates the effect that the Activision Blizzard King merger had on Microsoft's games business.

Xbox is poised to have a packed year with high-profile releases like Doom: The Dark Ages on the horizon, and the recent release of the Oblivion Remastered edition has reached over 4 million people across Game Pass and full game sales.

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