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Halo 3 Drives Q2 Profits For Microsoft News
Gwynne Dixon
25/01/2008
Microsoft's Entertainment and Devices Division turns an uncharacteristic profit for the software giant...
Microsoft's Entertainment and Devices Division (which accounts for the Xbox 360, Xbox Live and Microsoft Game Studios titles etc.) has had a history of recording significant losses for the Microsoft Corporation. However, its Q2 results (for the three months ending December 31st) show profits of £180 million ($357 million).
This sits atop an impressive six months for the division, with £265 million ($524 million) in profits for the first half of Microsoft's fiscal 2008. This compares to losses of £153 million ($302 million) and £214 million ($423 million) respectively for the same periods last year.
So why this sudden rise to form for the division? Look no further than Halo 3's impressive sales (particularly in the US). This is a point not lost in Microsoft's financial report:
"Xbox platform and PC game revenue increased $1.0 billion or 35% during the six months ended December 31, 2007, as a result of increased Xbox 360 console sales, video game sales led by Halo 3, Xbox Live revenues, and Xbox 360 accessory sales."
Xbox Live saw an impressive number of new subscriptions at the end of last year, attracting two million new customers in a couple of months to bring the total to 10 million Live users (a full six months ahead of schedule).
The Xbox 360's various reliability problems (including the notorious Red Ring of Death) have been a continuing problem for the division's finances. Last year, Microsoft extended its warranty policy for Xbox 360's to three years rather than one as a result of these problems. It was expected that this would lead to £520-570 million ($1.05-1.15 million) in pre-tax charges for the final quarter of Microsoft's fiscal 2007.
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