Xbox hits record Q1 with $3.593 billion in revenues

Xbox Q1 gaming revenues hit all-time historic high of $3.593 billion, driven by a massive 166% spike in hardware earnings.

@DeekeTweak
Published Tue, Oct 26 2021 6:31 PM CDT   |   Updated Sun, Nov 21 2021 4:57 PM CST

Microsoft makes history with a new all-time record for Xbox's Q1 revenues, driven by a massive spike in console sales.

Xbox hits record Q1 with .593 billion in revenues 15 | TweakTown.com
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Microsoft kicked off its Fiscal Year 2022 with a bang. Xbox earnings hit $3.593 billion, up 16% year-over-year and a new high for any Q1 period in the history of Microsoft gaming. Microsoft says this uptick in revenues was driven by a huge 166% jump in Xbox console sales primarily due to significant Xbox Series X/S demand. This Q1 performance follows another record year for Xbox with over $15.37 billion earned through FY21.

Xbox hits record Q1 with $3.593 billion in revenues 13 | TweakTown.com

"Gaming revenue increased $501 million or 16% driven by growth in Xbox hardware," Microsoft writes in an SEC filing.

"Xbox hardware revenue increased 166% driven by higher volume and price of consoles sold due to continued demand for Xbox Series X|S, on a low prior year comparable impacted by a slowdown in volume of consoles sold ahead of Xbox Series X|S launches.

"Xbox content and services revenue increased 2% driven by growth in Xbox Game Pass subscriptions and first-party titles, offset in part by a decline in third-party titles, on a strong prior year comparable that benefitted from stay-at-home scenarios."

Xbox hits record Q1 with $3.593 billion in revenues 14 | TweakTown.com
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Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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