July 9, 2010 /EIN Presswire/ – – After years of losing billions on its entertainment unit, Microsoft appears to be turning the corner thanks to its online community. Xbox Live, the online component of Xbox 360, likely made more than $1 billion in the financial year that ended in June, according to Bloomberg.
According to Microsoft’s numbers, Xbox Live has 25 million users with nearly half of those users paying a yearly subscription fee for the premium version of the service (which retails at $50 per year). Xbox COO Dennis Durkin told Bloomberg that revenue from online transactions, such as TV show downloads, surpassed subscription revenue for the first time, which Bloomberg suggests would put the Xbox Live revenue at nearly $1.2 billion, which is above analyst estimates.
Microsoft will reveal its full 2010 financial results on July 22.
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