Earnings calls are going out left and right. While Sony and Nintendo are reporting their numbers, Microsoft has a number of their own to report! It was stated that their company’s value has crossed the $1 Trillion mark for the first time in the company’s history!
Their positive earnings report caused their share price to increase, causing the company to surpass $1 Trillion. However, that price didn’t hold steady and by the end of trading, the stock prices fell slightly, valuing Microsoft at $995.4 Billion.
A 14% increase in earnings in the third fiscal quarter heavily attributed to the share price increase. Microsoft reported a net income of $8.8 billion. Not a bad chunk of profit for 3 month’s worth of work.
The report stated that while Xhox console sales are down, total gaming revenue was up 5%. Moves such as Xbox services expanding to Nintendo Switch, Games with Gold, and more attributed to this increase. The services side alone saw a 12% increase over the previous quarter.
Microsoft still has the new disc-less Xbox One S coming out as well as a potential next-gen Xbox announcement at this year’s E3 in just a little over a month’s time.
