Microsoft doubles loss in Xbox division
Reuters | at | by Mike
Microsoft lost nearly twice as much on its Xbox, games and consumer hardware businesses in the most recent quarter than it had a year earlier, according to a regulatory filing on Monday. Redmond, Washington-based Microsoft said that its Home and Entertainment division lost $190 million before taxes, write-offs and other charges in its fiscal third quarter ended March 31, compared with a loss of $97 million a year earlier.
The division's quarterly revenue fell to $493 million from $943 million a year earlier. The loss, which is mainly due to the ongoing costs of Microsoft's one-and-a-half year effort to break into the video game business, was detailed on the same day that the software giant was preparing to announce new features and games for its Xbox machine.