> It's also only referencing hardware sales. Not the Xbox division.
No??? You can quibble about the article, but you must've failed to read:
> The fourth quarter alone showed a sharper split. Xbox content and services revenue, which includes Game Pass, fell 10 percent in the quarter. Hardware revenue dropped 13 percent over the same three months
This is further bolstered by MS's own press release:
> XBOX content and services revenue decreased 10%
https://www.microsoft.com/en-us/investor/earnings/fy-2026-q4...
> and on 2025 Q4 don't include the Xbox Hardware division, only their content division
You said "I'm seeing an 11% increase in revenue from their 2025 Q4 report"
When the report says:
> Xbox content and services revenue increased 13% (up 12% in constant currency)
In fact, there's no 11% figure anywhere in the report, so I have to assume this is what you're referring to since MS didn't break out Xbox hardware anywhere in it.
This is laughably shoddy work, please don't waste my time.