Microsoft's Q1 2025 (fiscal) earnings:
- Thread starter Eternal_Wings
- Start date
These numbers are not accurate.
He just estimated it using a wrong base.
He uses a base for the division of $13.xx billion when MS revised it this year for 11.xx billion.
How much these ~$2b revision come from Xbox I don’t know but the most probably case is that the number are lower than what Welfare post.
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We all know and love @Welfare .
But his numbers for xbox hardware looked catastrophic in 2019 till the series launch 2020.
Since covid spending / launch is over and going back normal situation before covid...
I love how he come here says his numbers are accurate because it is based in % from MS themselves but after we point his mistakes of understand the financials docs that makes their math fucked wrong he go silent lol
I really want to help you @Welfare but seems like you don't want any help... just to keep spreading misinformation.
I will post a table here just to make clear what you are doing wrong.
Only using the Q1 as example.
FIXED: Q1 FY23 got adjusted to 11.16B.
* Normalized is using the same % of the adjustment it had on the More Personal Computing's revenue to the Gaming's revenue... it can not be accurate because Gaming's revenue could had bigger or smaller % adjustments but MS doesn't give that data.... there are even the possibility that no adjustment was made on Gaming's revenue that makes your math the hypothetical best scenario... of course there is the chance all adjustments were made in Gaming's revenue and that chance is so small like the one that they didn't changed anything in Gaming's revenue so I won't even bother doing the math for that hypothetical worst scenario.
I'm not saying my normalized revenue is accurate... there is no way to say if it is or not.
But at least it is more close to be reliable than the data you using on twitter and installbase.
After all 3.92 vs 3.30, 2.92 vs 2.72 and 5.62 vs 3.88 are big differences.
But I know the numbers post adjustments won't look good as the numbers you posted.
Edit - BOOM I just realized the Q1 FY23 revenue was adjusted to 11.16B.
You can check it here.
I really want to help you @Welfare but seems like you don't want any help... just to keep spreading misinformation.
I will post a table here just to make clear what you are doing wrong.
Only using the Q1 as example.
FIXED: Q1 FY23 got adjusted to 11.16B.
| Quarter / FY | Revenue | Revenue adjusted | Change | Welfare's Gaming Rev | Normalized Gaming Rev * |
| Q1 FY22 | $13.31B | $13.37B | +$0.06B (+0.5%) | $3.61B | $3.62B |
| Q1 FY23 | $13.33B | $11.16B | -$2.17B (-16%) | $3.92B | $3.30B |
| Q1 FY24 | $13.67B | $11.28B | -$2.39B (-17.5%) | $3.92B | $2.72B |
| Q1 FY25 | $13.18B | $5.62B | $3.88B |
* Normalized is using the same % of the adjustment it had on the More Personal Computing's revenue to the Gaming's revenue... it can not be accurate because Gaming's revenue could had bigger or smaller % adjustments but MS doesn't give that data.... there are even the possibility that no adjustment was made on Gaming's revenue that makes your math the hypothetical best scenario... of course there is the chance all adjustments were made in Gaming's revenue and that chance is so small like the one that they didn't changed anything in Gaming's revenue so I won't even bother doing the math for that hypothetical worst scenario.
I'm not saying my normalized revenue is accurate... there is no way to say if it is or not.
But at least it is more close to be reliable than the data you using on twitter and installbase.
After all 3.92 vs 3.30, 2.92 vs 2.72 and 5.62 vs 3.88 are big differences.
But I know the numbers post adjustments won't look good as the numbers you posted.
Edit - BOOM I just realized the Q1 FY23 revenue was adjusted to 11.16B.
You can check it here.
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MS did more like around $4b instead 5.6b if you use the revised numbers for the division.Uh oh I'll quote you from install base.
This post here explain it better:
Microsoft's Q1 2025 (fiscal) earnings:
There was a image on hardware revenue by Welfare and you could see that before xbox series it was completely collapsed, until covid era gave the sales a huge boost. But that is over now. Even Jez Cordon source told him they reached everyone they could reach in some territories. Found it
icon-era.com
Install base is running with made up numbers for obvious reasons.