New Xbox Game Releases and Financial Growth: What to Expect in the Future?
Microsoft has recently released its financial results for the second fiscal quarter of 2024, and the Xbox game revenues have seen a significant increase, growing by 49% compared to the previous year.
The main reason behind this growth is Microsoft’s acquisition of Activision Blizzard, which took place on October 13, 2023. The latest data includes the net impact of 44 points from this acquisition.
Xbox content and services revenues have also experienced a massive growth of 61% compared to the previous year (including a net impact of 55 points from the Activision acquisition). Hardware revenues have also risen by 3%.
Overall, Microsoft’s growth momentum in the second fiscal quarter of 2024 was 62%, indicating an 18% increase compared to the previous year. Just last week, Microsoft achieved a market capitalization of $3 trillion for the first time in history, becoming the second company after Apple to reach this milestone.
However, in the same week, Microsoft made the painful decision to lay off 1900 employees from the Xbox, Bethesda, and Activision Blizzard teams. This was described as necessary to align the company’s strategy and execution plans with a sustainable cost structure that supports the overall development of the company.
Looking to the future of Xbox this year, the recent Developer Direct presentation confirmed that games like Avowed, Senua’s Saga: Hellblade 2, and Indiana Jones and the Great Circle would be released on the Xbox Series X|S and available on Game Pass later this year.
New first-party titles that will be joining Xbox to boost its revenues include series such as Call of Duty, Diablo, World of Warcraft, and Crash Bandicoot. Additionally, the mobile developer King, known for games like Candy Crush, will contribute to this growth.
What are your thoughts on the recent results? Are you eagerly anticipating the new year for Xbox? Share your opinion in the comments below.
FAQ
1. What were Microsoft’s financial results for the second fiscal quarter of 2024?
Microsoft published its financial results for the second fiscal quarter of 2024, which showed a significant increase in Xbox game revenues.
2. How much did Xbox game revenues grow compared to the previous year?
Xbox game revenues grew by 49% compared to the previous year.
3. What was the main reason behind the growth in Xbox game revenues?
The main reason for the growth was Microsoft’s acquisition of Activision Blizzard.
4. When did Microsoft acquire Activision Blizzard?
The acquisition took place on October 13, 2023.
5. What position did Microsoft achieve in terms of market capitalization?
Microsoft reached a market capitalization of $3 trillion, becoming the second company after Apple to achieve this.
6. Did Microsoft lay off employees related to Xbox, Bethesda, and Activision Blizzard?
Yes, Microsoft laid off 1900 employees from the Xbox, Bethesda, and Activision Blizzard teams.
7. Which games will be released on Xbox Series X|S and Game Pass this year?
Avowed, Senua’s Saga: Hellblade 2, and Indiana Jones and the Great Circle will be released on Xbox Series X|S and Game Pass this year.
8. Which game series will join Xbox to increase revenues?
Call of Duty, Diablo, World of Warcraft, and Crash Bandicoot will join Xbox to increase revenues.
9. Which mobile developer will contribute to Xbox’s revenue growth?
The mobile developer King, known for games like Candy Crush, will contribute to Xbox’s revenue growth.
10. What are the expectations for the upcoming year for Xbox?
There are hopes for successful projects, and many gamers are eagerly awaiting the release of new games on Xbox this year.
Definitions of Key Terms:
Market Capitalization: It refers to the total market value of a company’s available shares. In the case of Microsoft, it means that the combined value of all the company’s shares in the market reached $3 trillion.
Revenues: These are the earnings generated by a company from its operations, including product and service sales.
Acquisition: It is an action of gaining control over another company or its assets.
Developer: A person or company responsible for creating computer games or software.
Game Pass: It is a subscription service that allows subscribers to access a wide catalog of games on Xbox consoles.
Game Series: A group of computer games that are thematically related or part of the same franchise.
Sources:
www.microsoft.com
www.xbox.com
www.activisionblizzard.com
www.king.com
The source of the article is from the blog smartphonemagazine.nl