Microsoft Posts 8% Q4 Growth for Xbox, Phone Division
During its latest investor earnings report, Microsoft announced that its Entertainment and Devices Division produced modest year-over-year growth, resulting in an 8% boost in revenue to $1.92 billion despite selling 3% less consoles (1 million) during its fourth quarter.
Xbox Live picked up the sales slack for Microsoft. The service produced 20% more revenue (compared to Q4 2012) in what the software giant characterized as a “soft console market.”
During its earnings report, Microsoft also revealed that it lost $900 million on its struggling Surface RT tablet. Despite that, the company still posted $4.97 billion in earnings from $19.9 billion in revenue.