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Xbox Business Still Losing Cash
>> From next-gen.biz:
[QUOTE]
Microsoft has announced overall record profits for its fiscal third quarter thanks to Windows Vista, but the games division is still losing money.
Overall revenue for the quarter ended March 31 was $14.4 billion, up 32 percent from a year prior. Operating income was $6.59 billion and net income was $4.93 billion.
Microsoft attributed the strong figures to "robust demand" for Windows Vista, which released in January, and Microsoft Office.
However, the Entertainment and Devices Division, which houses the Xbox and PC gaming business along with the Zune and other products, reported decreased Q3 revenue and continuing losses.
Revenue for EDD was down 21 percent to $929 million from $1.2 billion for the same period a year ago. Operating loss improved by 22 percent to $315 million from $402 million.
Microsoft said that revenue was down for the quarter because of "decreased Xbox 360 console sales." The company shipped 500K consoles during the period, bringing the worldwide total to about 11 million consoles.
Xbox 360 and PC software sales followed the quarterly decline in hardware, as revenue from games decreased $393 million, or 44 percent.
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Full Story: next-gen.biz
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