XBOX REVENUE DROPS 10 PERCENT AS MICROSOFT’S CLOUD AND AI BUSINESS SURGES - THE VERGE
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WHAT HAPPENED
Microsoft's Xbox revenue has dropped by 10 percent, according to the company's latest earnings report, as noted by Google News. This decline marks the fourth consecutive quarter of revenue decline for Xbox. The drop in Xbox revenue comes despite a surge in Microsoft's cloud and AI business.
The decline in Xbox revenue is attributed to a 13% fall in hardware revenue, as reported by VGChartz. Despite this, Microsoft CEO remains optimistic, stating that Xbox will 'return to growth' this fiscal year, as quoted by Kotaku. Xbox CEO also expressed confidence in the future growth of the business, citing expectations for a return to growth, according to IGN.
The decline in Xbox revenue occurs amidst a larger trend of growth in the tech industry, particularly in cloud and AI sectors, as seen in Samsung's record profit reported by the Associated Press. This shift in the tech landscape may have contributed to the decline in Xbox revenue.
- Xbox revenue dropped by 10 percent
- Fourth consecutive quarter of revenue decline for Xbox
- Microsoft's cloud and AI business is surging
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