The latest Q3 2024 financial results from Microsoft are here, and they reveal that the Xbox and its other hardware (Surface devices and more) businesses are bringing yet another low revenue for the company.
However, its biggest earners for this quarter are the Microsoft Office and Cloud businesses, which saw a massive rise during this third fiscal quarter.
All in all, it was a great third quarter for the company, which showed off its significant earnings and numbers, with a rise in its revenue percentage.
Microsoft's Q3 2024 Sees Xbox, Surface Low Revenue
Microsoft posted its Q3 2024 results earlier today, and while it boasts of a massive 17 percent revenue increase, Xbox and its hardware business are still struggling.
This is because Microsoft hardware development saw another dip in revenue for this fiscal year's third quarter, following the stagnant numbers reflected last January.
It also includes the Surface hardware business of the company that is seen struggling this third quarter, with Microsoft not catching a break for its devices.
The good thing is that Microsoft's gaming division has not entirely lost, as it still saw higher revenue thanks to Activision Blizzard's contributions.
Microsoft Office, Cloud Bring Biggest Business
Microsoft's Office and Cloud businesses were the biggest gainers in Q3 2024, raking in a massive 23 percent year-over-year increase.
Additionally, the Windows OEM revenue is third place for its biggest gainer, seeing an 11 percent year-over-year increase. Microsoft's revenue reached $61.9 billion, and a net income of $21.9 billion.
Microsoft and its Xbox Hardware Struggles
The struggle has been real for Microsoft these past few quarters, as the company faced significantly low numbers for its Xbox and hardware businesses, as reflected in its financial results.
The last quarter's financial report showed stagnant numbers for Xbox and Microsoft's hardware. Still, the good thing is that its Activision Blizzard acquisition is bringing in massive revenue for the company.
Amidst all of this, Microsoft still brings massive focus to its hardware development as evidenced by the company's various plans for future devices, discovered by insiders and rumor mongers.
This includes the Xbox handheld device and a new Xbox Series X console, which will feature an all-white and digital refresh, which has been highly speculated for the previous months.
On the other hand, there are still no new details behind the company's Surface business, with the development of its laptop and tablet hybrid devices at a stalemate.
Microsoft's revenue is up by a massive 17 percent this Q3 2024, but that does not overshadow its current challenges in the hardware division, particularly with its Xbox gaming offers.
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