Xbox 360 revenues down nearly 30%

While Microsoft's general financial health was reported as robust earlier today, the company's Xbox 360 division saw revenues dip by 29 per cent.

Increased speculation around the company's next console isn't the only sign that the Xbox 360 device is in its autumn years, with the company's end of second quarter 2013 financial results revealing that the Entertainment and Devices Division (EDD) saw an 11 per cent dip revenue to $3.77 billion.

Much of this decline was attributed to the division's Xbox 360 home console, with the company saying revenue dipped by $1.1 billion, due to decreased sales and lower videogame revenues.

"We shipped 5.9 million Xbox 360 consoles during the second quarter of fiscal year 2013, compared with 8.2 million Xbox 360 consoles during the second quarter of fiscal year 2012," revealed Microsoft.

The company went on to suggest that video game revenue fell period-on-period due to high-profile releases earlier in 2012, such as Gears of War 3, and no comparable blockbusters in the current three-month period.

James Lee

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James Lee is a freelance writer and analyst with extensive experience in the technology, media and games sectors. For the past few years he has provided content for internationally published industry reports, SEO companies and a variety of news-focused websites. Prior to this, James was responsible for covering news and producing in-depth features for GamesIndustry.biz while occasionally contributing to its sister-site. Eurogamer.net. In addition to this he has contributed to other notable sites such as CVG.co.uk, Edge-Online and DigitalSpy.