Microsoft Entertainment Division Narrows Losses News
Jon Wilcox
27/10/2006
Demand for all things Xbox 360 drive down losses in the first quarter of Microsoft's financial year...
Following in the footsteps of Sony and Nintendo, Microsoft has today announced its financial results for the three months ending September 31st 2006, it's first quarter of the 2006/07 fiscal year.
Whilst there's been continued growth in revenue across the corporation as a whole, up from $9.74 billion (£5.14 billion) in Q1 2005 to $10.81 (£5.70 billion), the Entertainment and Devices Division, which includes the Xbox 360, saw increases of 58% from $608 million (£320.7 million) to $1.08 billion (£569.6 million).
Citing a continued demand for it's next-generation console, the division's operating loss shrunk on the year from $173 million (£91.2 million) to $96 million (£50.6 million).
Microsoft will continue to launch the Xbox 360 in a number of territories in the coming months, including the likes of India, so it'll be interesting to see what effect the expansion will have on the division's results in the coming quarters.
We'll have more news shortly...