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Xbox 360 sales remain strong, moving 1 million units last quarter
Xbox 360 sales remain strong, moving 1 million units last quarter
July 18, 2013 | By Kris Ligman

July 18, 2013 | By Kris Ligman
More: Console/PC, Business/Marketing

As markets close on the U.S. East Coast, Microsoft has released its fiscal fourth quarter results [link], which showed steady sales in its Entertainment & Devices Division, which includes Xbox.

In the earnings statement, Microsoft reported that it shipped 1 million Xbox 360 consoles in the fiscal fourth quarter ending in June, a decrease of only 100,000 from the same quarter a year ago. The sales remained steady as its successor, Xbox One (announced in late May), appeared the horizon.

Revenue from transactions and subscriptions through Xbox Live grew just shy of 20 percent, while Microsoft's overall Entertainment and Devices Division grew 8 percent for the quarter ($1.9 billion in sales over $1.8 billion in the same period last year).

Operating losses for the quarter narrowed to $110 million, an improvement from losses of $252 million for the same quarter a year prior, thanks to increased revenue in the division.

For the full year ended in June, the Xbox division saw revenues of $10.2 billion, up from $9.6 billion year on year. Annual operating income was up to $848 million from $380 million.

In terms of overall business, Microsoft corporation announced a quarterly revenue of $19.9 billion, up from $18 billion in the same period last year. For the full year (June 2012-June 2013) revenues reached $77.8 billion (up from $73.7 billion), for an annual profit of $21.9 billion (up from $17 billion).

Despite the solid showing, stock prices dropped in after-hours trading, down to 33.35 per share at time of writing.

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Mike Griffin
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Reuters reports today:

" one gasp-inducing stock move Friday, the chickens are coming home to roost. Shares have fallen 11% — 11%! — wiping out more than $32 billion in stockholder value before lunch.

The reason, of course, was the gift-wrapped earnings stinker Microsoft gave markets on Thursday afternoon. The fiscal fourth quarter numbers were about 9 cents a share shy of the average of analyst expectations. On a percentage basis, is was Microsoft’s worst earnings miss since 2004."

Big losses and overestimated inventory from the Surface RT, lower return than estimated from Windows 8, and even ho-hum Xbox division numbers -- R&D, production and deployment of Xbox One factoring.

"Microsoft executives...reiterated that it’s going to take time to transition the company from a PC company to a post-PC, tablet, smartphone and software services company."

Microsoft is transitioning to a "post-PC" company?

Fiore Iantosca
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Ballmer needs to leave Microsoft.