Microsoft reports sinking Xbox revenue as its cloud business climbs

Microsoft's Xbox hardware revenue declined 33% in its earnings report, while its cloud and productivity businesses continue to grow, driving the company's revenue to $82.9 billion. This decline in Xbox revenue is a significant concern for the company. The executive turnover, including the departure of Xbox chief Phil Spencer, may be contributing to the decline. The company's cloud business is a key area of focus for Microsoft. The decline in Xbox revenue is a significant shift in the company's consumer-focused division.