Xbox FY23 Q3 gaming revenue down 4% year-over-year

What you need to know

• Microsoft’s financial results for FY23 Q3 show Xbox gaming revenue down 4% year-over-year.
• Xbox content and services revenue was up 3% year-over-year due to growth in Xbox Game Pass.  
• Xbox hardware was down 30% year-over-year, which Microsoft states is due to console shortages.

The latest financial results for Microsoft and the Xbox brand are here. 

Microsoft shared (opens in new tab) on Tuesday that for FY23 Q3, Xbox gaming revenue was down 4% year-over-year. This was primarily driven by hardware, which was down 30% year-over-year from FY22 Q3. Outside of hardware, Xbox content and services was up 3% year-over-year, which Microsoft states is primarily due to growth in Xbox Game Pass.