Speaking on an accompanying earnings call, as reported by Game Developer, Microsoft CEO Satya Nadella said that Xbox Game Pass’s annual revenue totaled just under $5 billion, with 500 million active users, and “nearly” 40 games in development. He added, “We surpassed over 500 million hours of gameplay streamed via the cloud this year.”

Content and services sales increased 13%. Hardware revenue, which is made up of sales for Xbox devices, including the Xbox Series X and S consoles, was down 22% total. (For comparison, last quarter, console sales fell just 6% ).

Game Pass made Microsoft almost $5bn in annual revenue last year, proving the company is in a healthy state despite last month's shock layoffs.