Microsoft Q4 financials reveal Xbox division gains, $900M Surface loss
Microsoft has released its fourth-quarter and full-year financial results ending June 30, 2013, revealing a boost in earnings for its entertainment division and a significant loss related to its Surface tablet series.
The company took in $19.9 billion in revenue this quarter – up 10 percent compared to last year's earnings – with $4.97 billion in net income. Revenue for Microsoft's Entertainment and Devices Division, which includes Xbox 360 hardware and software sales, grew by 8 percent ($134 million) this quarter, and 6 percent ($566 million) year-on-year.
Microsoft additionally reports that Xbox Live transactional revenue grew by nearly 20 percent during the last quarter year.
Microsoft's quarterly results include a $900 million charge for "Surface RT inventory adjustments," impacting stock by 7 cents per share. The loss follows a recent round of Surface price drops, suggesting that Microsoft is struggling for position in the tablet market.
