The Issues Persist
Console supply chain issues could keep the console shortages around throughout the rest of 2022, according to Tim Stuart, Xbox’s Chief Financial Officer.
The new statement from the CFO of Xbox came during the most recent investor call. Stuart claims that the supply chain environment is still “rocky” and could remain a hindrance to the consoles’ production through the rest of 2022.
Microsoft’s CFO, Amy Hood also managed expectations during the investors’ call stating that the company overall expects a decline in revenue due to the consoles’ supply issues but players’ engagement will remain high. “In gaming, we expect revenue to decline in the mid to high single digits driven by lower engagement hours year-over-year as well as constrained console supply,” said Amy Hood “We expect Xbox content and services revenue to decline mid-single digits though engagement hours are expected to remain higher than pre-pandemic levels.”
It is worth noting that despite the recent reports by Xbox and Microsoft executives, the Xbox Series X/S console sales have been beating both the Nintendo Switch and the Playstation 5 in terms of hardware dollar sales throughout 2022. Both the Series X and the Series S have sold over 13.87 million units in total by April of 2022, which is considered record-breaking when compared to the Xbox 360 console as it had sold 9.38 million units in its first 17 months.