Xbox console revenue fell 30 percent year-over-year this summer

It hasn't been a good year for Xbox so far. Microsoft has released its earnings report for the quarter ending on September 30, and it has revealed that its revenue from the Xbox hardware fell by 30 percent year-over-year. Take note that the revenue decline doesn't reflect any dip in sales caused by the console's $20-to-$70 price hike, since that took effect on October 3. Similarly, Microsoft only raised the price for its Game Pass Ultimate subscription from $20 to $30 in October.

Meanwhile, revenue from Xbox content and services remained relatively unchanged from the same period last year. Microsoft says it saw growth from Xbox subscriptions and third-party content, but it was "partially offset" by the decline in first-party gaming content.

The Xbox division was one of the most affected teams when Microsoft started cutting down its global workforce earlier this year ...