Xbox Reports 10% Revenue Growth in Q2 2025

Microsoft’s Xbox division posted notable revenue gains during the second quarter of 2025. According to the company’s latest earnings report, overall gaming revenue increased by 10% year-over-year, with content and services revenue growing by 13%. The results reflect a strong performance in first-party game content and continued engagement through Xbox Game Pass. However, one of the more unexpected developments this quarter came from sales on competing platforms, particularly PlayStation.

Q2 2025 Top 10 Best Selling Games on Xbox

Xbox Reports 10% Revenue Growth in Q2 2025

New data shared by Circana analyst Mat Piscatella revealed that six of the ten best-selling games on PlayStation consoles in the United States between April and June 2025 were published by Microsoft. This outcome highlights the early impact of Xbox’s multi-platform release strategy, which has made select titles available beyond its own hardware.

Among the top performers was Forza Horizon 5, which ranked second for the quarter following its debut on PlayStation platforms. It was narrowly edged out by Elden Ring: Nightreign. The Elder Scrolls IV: Oblivion: Remastered followed closely behind. Other Microsoft-published titles making the PlayStation top ten included Doom: The Dark Ages at number six and Indiana Jones and the Great Circle at number eight. Longstanding titles such as Call of Duty: Black Ops 6 and Minecraft also appeared on the list, placing fourth and ninth respectively.

Sony’s own first-party representation in the top ten was more limited. MLB: The Show 25 ranked fourth, while Death Stranding 2: On the Beach debuted at number seven. The strong presence of Microsoft games on a competing console suggests that Xbox’s recent content strategy may be broadening its overall market reach.

Q2 2025 Top 10 Best Selling Games on PlayStation

Xbox Titles Show Different Trends on Home Platform

While Microsoft-published games performed well on PlayStation, Xbox’s internal rankings looked somewhat different. According to Circana’s data, Oblivion: Remastered also ranked second on Xbox, and The Elder Scrolls Online held the third spot. Minecraft followed at number four, while Call of Duty: Black Ops 6 appeared at number nine.

Some titles that performed strongly on PlayStation, such as Indiana Jones and the Great Circle and Doom: The Dark Ages, did not appear in Xbox’s top ten. One likely explanation is that these titles were released directly into Xbox Game Pass, which could have shifted player engagement away from traditional sales channels. Forza Horizon 5 was also absent from Xbox’s top list, likely due to its original release on the platform in 2021 and its recent arrival on PlayStation for the first time this quarter.

2025 Top 20 Games

Multi-Platform Strategy Shows Results

The second quarter earnings indicate that Microsoft’s approach to releasing games across multiple platforms is beginning to yield tangible results. Revenue gains and broader player engagement suggest that expanding beyond exclusive Xbox releases can create new commercial opportunities. The strong performance of new and legacy Microsoft titles across both Xbox and PlayStation platforms played a key role in this quarter’s growth.

However, questions remain about how sustainable this strategy will be over time. Microsoft recently announced layoffs affecting hundreds of employees and has canceled several in-development projects, including Everwild and Perfect Dark. These changes may affect the company's ability to deliver consistent first-party content in the future.

As Microsoft continues to adapt its strategy, the gaming landscape appears to be shifting toward a more platform-neutral environment. The presence of Microsoft-published games on PlayStation, and their commercial success there, suggests that competition in the console space may increasingly depend on content availability and service models rather than hardware exclusivity.

Q2 2025 Top 10 Best Selling Games on Nintendo

Final Thoughts

Xbox’s second quarter results underscore the impact that strategic content decisions can have across the broader gaming ecosystem. While hardware revenue declined by 22% year-over-year, the rise in content and services more than offset that decline, reflecting the growing importance of game accessibility and subscription-based models such as Xbox Game Pass.

The current trajectory suggests that if Microsoft can maintain a steady release of high-quality titles (whether through direct sales or subscriptions) it may continue to see benefits from its multi-platform approach. At the same time, the company faces internal and market-related pressures that could influence its ability to sustain this growth.

With the gaming industry becoming increasingly interconnected, the traditional boundaries between platform holders may continue to blur. Microsoft’s performance in Q2 2025 offers a clear example of how shifts in content strategy are shaping the competitive landscape. Here is a list of all the games mentioned:

1. Forza Horizon 5
2. Elden Ring: Nightreign
3. The Elder Scrolls IV: Oblivion: Remastered
4. Doom: The Dark Ages
5. Indiana Jones and the Great Circle
6. Call of Duty: Black Ops 6
7. Minecraft
8. MLB: The Show 25
9. Death Stranding 2: On the Beach
10. The Elder Scrolls Online
11. Everwild
12. Perfect Dark