• Hey Guest. Check out your NeoGAF Wrapped 2025 results here!

Xbox Financial Results January - March 2026

Disastrous results as per usual. Guiding down in the Forza Horizon 6 quarter is particularly diabolical.

People need to remember that Xbox controllers are still selling good, so HW will never really go down to 0.
giphy.gif
 
Yikes. Bet MSFT wishes Xbox division was off the books. I wouldn't be surprised if they spun off Xbox or sold it if there was a buyer out there for it for it. Seems too late now with AI the new hot thing and less big buyers out there, like Saudi money already put towards EA.
 
Yikes. Bet MSFT wishes Xbox division was off the books. I wouldn't be surprised if they spun off Xbox or sold it if there was a buyer out there for it for it. Seems too late now with AI the new hot thing and less big buyers out there, like Saudi money already put towards EA.
They'd get more money selling Jez to the Saudi's.
 
Which Microsoft games released in the last ~ten years being made exclusive would even have moved the needle? Forza? CoD they apparently can't make exclusive for now.

They have the IP for an exclusive-based strategy, but the more difficult part is being able to make games people actually want to play. Both in terms of quality and in the logistical sense of getting their studios to be productive.
 
I think we all know where this is headed and have known for some time. MS is trying to hang on to the "core" as they migrate toward PC and third-party. Asha can say they are focused on the console and returning to their Xbox roots but she had zero input in this consoles design or the strategy behind it. I used to think it was about retaining the Game Pass subs but they can't just shutdown Xbox at this point because the ramifications of doing so would follow them into the PC space (and possibly the third-party market). They have to find a way to exit the console space quietly and without upsetting their vocal "core" to a point that it damages their overall gaming brand even more than it already is.

One thing I will give Asha credit for, even though I hate that it ruined Xbox meaning the console, I believe it was smart to make Xbox the gaming brand vs Microsoft Gaming. It puts them in a position that at some point, they could launch the gaming version of Windows under the Xbox name to keep the b2b and casual gaming markets seperate if they felt the need to spin off Xbox. Plus, Xbox sounds a bit more modern than Windows Gaming.

I hope it works out. It is clear I am not their target demographic anymore because I want my console to be a console and my PC to be a PC. It's funny, I always wanted Xbox to partner with someone and do a PC in addition to their consoles to compete with Alienware. Unfortunately, I did not want it to come at the costs of the traditional console. I wanted it to be an alternative solution for PC gamers.

Looking at the earnings call it is pretty clear why Sarah "resigned" and Phil "retired." I think several people here speculated that this earnings call was going to be bad when those departures were announced. The only thing I can't figure out is why they didn't send Phil a PlayStation and Nintendo gift basket and disable his Game Pass account and access card. :messenger_tears_of_joy:


/musings of an idiot.
 
Last edited:
Imho higher chance magnus gets canceled vs it sells even 30m units, thats how dire xbox situation is worldwide.
30M units, who expects that?
They're almost extinct now, they need to successfully revive the brand to even sell 10M units, they're in a worse state than when entering the market with original Xbox which sold 20+ million.
Maybe if they drop all ports to other platforms, including PC, and release a handfull of games from big popular IPs and get a 90+ metascore, drop online paywalls and if Sony stumble on something - then they could reach OG Xbox numbers.
 
asha: the figures are in, & they indicate that there's nowhere left for xbox to go from this point on but up!...
Well from her point of view it's not so bad tbh, even one quarter without a drop is going to be phrased in PR like she's turning things around, she's stepping in at the perfect point.
 
Last edited:
That's a dumb take, they can't recoup the whole cost now that way and there is nothing to gain by selling off the only things that can bring in more money over time.
At a certain point you have to accept the loss or lose even more, the bleeding needs to stop. Now will they sell everything like it is said in the tweet above? Maybe, maybe not but it's a possibility.
 
One last attempt then they'll sell it off piece meal if it's not to their liking imo. But, there's a wider piece now. Ms will be terrified about losing share in the OS space and gaming is tied to that. So,they are kinda up shit creek, imo.
 
When did Circana release that info?
It's leaked info.

It's in fact me that leaked these numbers last year but Circana data have been leaked since the 2010s for those who are aware.

These days leaks have just been much less frequent because it's becoming harder to get figures.
Also I don't have monthly figures and the last person to ever leak monthly figures was Aquamarine.

The exact numbers for 2024 US hardware were:

PS5 - 5.97M
Switch - 3.21M
Xbox Series - 2.76M
PS4 - 30K

Total - 11.97M

Anyways with what is public you can easily found something close:


Xbox Series was 13% behind Xbox one at the end of 2023 and 18% behind at the end of 2024.

Only thing you have is to get the Xbox one leaked numbers from Neogaf/Restera and you will have rough estimate (not exact though because Xbox one numbers were slighty updated since the original reports but close enough).

Xbox Series was at 16.2M by the end of 2024 in the US.
The closest console to it sales wise is Nintendo 64 who ended at 18.0M in the US.

Imo Xbox can come back if they want the major problem being the *if they want* part.

Things are never set in stone and Xbox Series still had somewhat an audience despite evrything.

But it require to learn from their mistakes and do efforts (what Nintendo did following their bad periods) that will show results in long term.
 
Last edited:
It's like, you want to sell consoles?
Release big exclusive games.
Well when they finally broke their long drought it was with... Redfall. And then Starfield following that which also turned out to be not the generational Bethesda title it was supposed to be. By the time they actually started a deluge of decent games it was too late.
 
30M units, who expects that?
They're almost extinct now, they need to successfully revive the brand to even sell 10M units, they're in a worse state than when entering the market with original Xbox which sold 20+ million.
Maybe if they drop all ports to other platforms, including PC, and release a handfull of games from big popular IPs and get a 90+ metascore, drop online paywalls and if Sony stumble on something - then they could reach OG Xbox numbers.
Exactly, lets say there is some 20% chance magnus gets cancelled, and im saying for them to even sell measly 30m units(so around or even below those terrible series s/x sales this gen had) its even more unlikely :P.
Now imagine some1 would say that about next ninny or playstation console, it simply wouldnt have happened ^^
Chance for ps6 to be canceled is close to 0 and we would have to be in actual 3rd world war for it to happen.
 
Last edited:
It's leaked info.

It's in fact me that leaked these numbers last year but Circana data have been leaked since the 2010s for those who are aware.

These days leaks have just been much less frequent because it's becoming harder to get figures.
Also I don't have monthly figures and the last person to ever leak monthly figures was Aquamarine.

The exact numbers for 2024 US hardware were:

PS5 - 5.97M
Switch - 3.21M
Xbox Series - 2.76M
PS4 - 30K

Total - 11.97M

Anyways with what is public you can easily found something close:


Xbox Series was 13% behind Xbox one at the end of 2023 and 18% behind at the end of 2024.

Only thing you have is to get the Xbox one leaked numbers from Neogaf/Restera and you will have rough estimate (not exact though because Xbox one numbers were slighty updated since the original reports but close enough).

Xbox Series was at 16.2M by the end of 2024 in the US.
The closest console to it sales wise is Nintendo 64 who ended at 18.0M in the US.

Imo Xbox can come back if they want the major problem being the *if they want* part.

Things are never set in stone and Xbox Series still had somewhat an audience despite evrything.

But it require to learn from their mistakes and do efforts (what Nintendo did following their bad periods) that will show results in long term.

This is interesting info, thanks.

Do we know what Xbox was down yoy in 2025 Vs 2024 for this quarter? And what this quarters numbers were in 2024?

Then we can see what 33 percent down actually equates to.
 
So what games came out in quarter 3 of 2025? I'm trying to understand why the content and services is down compared to last year. And what games came out quarter four of 2025? Because it simply makes no sense for Amy Hood to state that content and services will be down by at least -13% next quarter.
 
It truly is incredibly how this shows exactly when their massive games drought began (22Q2). It entered a death spiral they never got out of.

Which coincided with the quarter when Sony was finally able to address shortage of PS5 availability in the US (Playstation priorities shipping consoles to to NA over Europe and Japan for strategy reasons) That Nov 22 Xbox sold around 750K console with. My theory is that not insignificant reason why the Xbox series consoles sold well early in the generation was due to lack of PS5 availability.

This also why when people say the Business Update caused hardware to tank it's false, hardware had been spiralling down prior to that and the business update was the result of it and not the cause.
Xbox the quarter before the business update were extremely aggressive with deals for there hardware. Xbox series S available for $150 the Xbox X available for $350 and was cheaper than the PS5. Leadership at Xbox did everything but foster an environment that enabled consistent must play titles to be produced as to try to avoid going down their current path.

Even if the reverse course with their games going to Playstation and Switch I don't think it'll make a significant difference to marketshare. Because as the numbers show even with their day and day multiplatform strategy show ( Doom, Outer worlds 2) they can't make titles that resonate with the mass often enough.
 
So what games came out in quarter 3 of 2025? I'm trying to understand why the content and services is down compared to last year. And what games came out quarter four of 2025? Because it simply makes no sense for Amy Hood to state that content and services will be down by at least -13% next quarter.
  • Avowed - February 18
  • Grounded 2 - July 29 (early access)
  • South of Midnight - April 8
  • Keeper - November 14
I might be missing more and I only included first party titles which narrows the list down substantially. If I included multiplat games like Doom, Oblivion, etc, it might paint a better picture for Xbox, but this is only about their first party, only on Xbox titles released in 2025. Even that comes with the caveat that all of these games can either be bought on Steam or will be/did release later on PS5 (like South of Midnight).

If this is all MS has to offer first party wise, it doesn't surprise me that game revenue is down so much. Also keep in mind that MS doesn't disclose sales numbers, just "pLaYeRs EnGaGeD" and all that horseshit so getting actual hard sales numbers is damn near impossible for Xbox games.

Asha Sharma just walked straight into a the 11th circle of Dante's Inferno trying to turn this game company around my dude. This is worse than I thought it would be.
 
So what games came out in quarter 3 of 2025? I'm trying to understand why the content and services is down compared to last year. And what games came out quarter four of 2025? Because it simply makes no sense for Amy Hood to state that content and services will be down by at least -13% next quarter.

FH5 on PS5 released at the very very end of the quarter before so the near entirety of the revenue fell in the quarter your referring similar to Oblivion Remaster and Indiana Jones Playstation release.
Doom the Dark Ages, Tony Hawk 3+4, Age of Empires 2 DE on PS5 I believe are the titles that released in the May to Jul quarter.
 
Why so much negativity in this thread ??

Its %. It can be higher. Especially at lower unit sales, % drops are usually higher.

If they sold 3 units last year, this year they sold 2 units, it will be 33% drop. In reality they sold only 1 fewer unit.

Sadly, I think a lot of posters here know this. They just wanna make fun of it.
 
Why so much negativity in this thread ??

Its %. It can be higher. Especially at lower unit sales, % drops are usually higher.

If they sold 3 units last year, this year they sold 2 units, it will be 33% drop. In reality they sold only 1 fewer unit.

Sadly, I think a lot of posters here know this. They just wanna make fun of it.
I think you know why, this forum is full of them
 
Why so much negativity in this thread ??

Its %. It can be higher. Especially at lower unit sales, % drops are usually higher.

If they sold 3 units last year, this year they sold 2 units, it will be 33% drop. In reality they sold only 1 fewer unit.

Sadly, I think a lot of posters here know this. They just wanna make fun of it.
Dropping down to just 2 sales in a quarter would be pretty catastrophic.
 
FH5 on PS5 released at the very very end of the quarter before so the near entirety of the revenue fell in the quarter your referring similar to Oblivion Remaster and Indiana Jones Playstation release.
Doom the Dark Ages, Tony Hawk 3+4, Age of Empires 2 DE on PS5 I believe are the titles that released in the May to Jul quarter.

Okay so I understand why they will be down by at least a -13% next quarter then. That was a lot of content to generate revenue for them last year between April and June 30th.
 
This thread isn't about Helix....... Its literally titled "Xbox Financial Results January - March 2026"

Again, which bit of positive news did I miss, you know that would attract positive comments in this thread.
Its overreaction.

2% is meh.

Thats why I brought up Helix. It will go way into the positive once it comes out.
 
Why so much negativity in this thread ??

Its %. It can be higher. Especially at lower unit sales, % drops are usually higher.

If they sold 3 units last year, this year they sold 2 units, it will be 33% drop. In reality they sold only 1 fewer unit.

Sadly, I think a lot of posters here know this. They just wanna make fun of it.

At this part of the cycle it naturally for hardware revenue growth to be negative. The rate of the decline is the issue.
We'll see it in a week or two time but it's especially eye opening my your direct competitor who released hardware at the same time as you isn't not only is generating more hardware revenue than you but is also experiencing slower negative hardware growth that's significant.

That isn't even the main concern in my opinion. The bigger issue is the the lack of growth when it comes to content and services. They're games are everywhere and yet they're aren't experiencing growth in the sector.

Once Helix launches, these numbers will be going massively into the positive.

With the rumour price of the device and the volume they'll be able to sell because of it I don't know if will be massively up. Plus 6 quarters to get that is sometime to wait.
 
You're right. Those $1500 PCs will sell as hot as the Xbox Ally X did hey.

With the rumour price of the device and the volume they'll be able to sell because of it I don't know if will be massively up. Plus 6 quarters to get that is sometime to wait.
Steam is not guaranteed to be on Helix.

If its not there, it will be high volume product. Which means low costs. Likely will come with a "S" version that will be properly powerful ( PS5 pro level), at a lower price too.
 
And Helix sales will be even worse.

Honestly, they should just cut their losses.

No one cares about Xbox hardware anymore, except for the die-hard fanboys.

Asha won't change any of that. It's over.
I care about beating 50+ games a year using quick resume feature. I could care less about the public perception if there's a way to beat one more game a year.
 
Last edited:
Top Bottom