Xbox dominated the PlayStation pre-order/install listings, saw huge PC Game Pass Growth, and new MAU records as detailed in their Q3 earnings call.
Xbox gave their Q3 2025 earnings report today with the lead being:
- Gaming revenue grew 5% (up 6% CC)
- Xbox content and services revenue grew 8% (up 9% CC) driven by growth in Xbox Game Pass, Call of Duty, and Minecraft.
- Xbox hardware revenue declined 6% (down 5% CC)
Later in the afternoon the executive team hosted their normal post earnings report investors call. Satya Nadella took the lead giving a batch of figures around Xbox, with growth and milestones for nearly every non-hardware part of the division.
Record Numbers
Satya Nadella has detailed Xbox’s Q3 2025 earnings in an investors call this afternoon. Some of the highlights include:
- Xbox ended the quarter as the top publisher on both Xbox and PlayStation for pre-orders and pre-installs
- PC Game Pass saw growth of 45% year-over-year
- There was a 75% increase in active users for Minecraft year-over-year after its movie released
- Xbox Cloud Streaming use saw a record 150 million hours for the quarter
- Xbox games and services saw 500 million users across all platforms
Amy Hood stated that for the second quarter in a row that the gaming division outperformed their expectations. Xbox has seen a marked shift from an Xbox console-first approach to an “Xbox Everywhere” one.
As the console market has finally matured and stopped growing it appears, at least for now, that Xbox’s approach of slowly trying to dominate every possible means of entry in the gaming market is paying off. The overall market has stagnated, still earning insane amounts of money, but not growing the way it had consistently for decades.
What do you think about Xbox’s multi-platform where it makes sense, approach? DOOM: The Dark Ages is about to ship on Xbox, PlayStation, and PC. Indiana Jones and the Great Circle and Forza Horizon 5 have both launched to critical and commercial success on PlayStation in April 2025 as well. Sound off
