Microsoft reports record Q1 revenue

Microsoft has posted its first quarter financial results, reporting record revenue numbers for the period.

The firm brought in $18.5bn in revenue for the three-month period ending on September 30th, a 16 per cent increase compared to the same period last year.

Microsoft also saw overall net income of $5.24bn, a year-over-year increase of 17 per cent.

While Xbox 360 sales were down 29 per cent year-over-year to 1.2m units for the quarter, the company’s Devices and Consumer Hardware segment it falls under was still up 37 per cent to $1.49bn.

That’s thanks in part to Microsoft’s Surface tablet moving $400m in sales during the period – a product the company didn’t have the benefit of during Q1 2012.

Microsoft’s Devices and Consumer Other segment also saw a 17 per cent jump to $1.64bn, thanks at least in part to Microsoft’s first-party games sales and Xbox Live transactions. Transactional revenue on Xbox Live was up more than 25 per cent year-over-year.

Games Industry reports Microsoft has since held a conference call regarding the results, in which CFO and executive VP Amy Hood talked up next month’s Xbox One release.

"We expect the launch of Xbox One to be the biggest in Xbox history," Hood said.

Microsoft projects the console launch will help push its Devices and Consumer Hardware quarterly revenue up 35-40 per cent.