Microsoft recently released its earnings results for the three months ending 31 March 2009, the company suffered an overall revenue fall of six per cent over the quarter but the Xbox 360 division on the other hand performed strongly.
Microsoft’s overall revenue for the quarter came in at US $13.65 billion. While operating income, net income and diluted earnings per share were US $4.44 billion, US $2.98 billion and US $0.33 per share, which represented an increase of three per cent and declines of 32 per cent and 30 per cent respectively.
The results were also mixed for the entertainment and devices division which saw revenues for the quarter fall two per cent to US $1.57 billion and operating profit ran in at a US $31 million loss.
But on the positive side the Xbox 360 seems to have bucked the trend with a 30 per cent increase in console sales compared to the same period last year. Microsoft’s console sold 1.7 million units over the period.
In addition to the impressive console sales, the Xbox 360 also witnessed strong attach rates for games and accessories for the system. According to the earnings report, Xbox 360 owners on average have 8.3 games and 3.9 accessories; this has improved form 7.5 games and 3.6 accessories in 2008.
So overall it seems Microsoft is feeling the effects of the financial crisis around the world, but the Xbox 360 on the other hand is standing up to the claims that the video games industry is recession proof, with an impressive uptake in all areas.