Microsoft's (MSFT) Xbox and Starfield Showcase Games Jointly
Microsoft’s MSFT Xbox Games Showcase 2023 gave fans a glimpse into the future of its gaming platforms, including console and PC. MSFT also unveiled highly anticipated titles like Starfield (launch on Sep 6), Senua’s Saga: Hellblade II, Forza Motorsport and Avowed.
During the Xbox Games Showcase, out of the 27 projects Microsoft showcased, 21 will be available for Xbox Game Pass..
All the games showcased during the recent event will be available on both PC and the highly capable and budget-friendly Xbox Series X and S consoles.
Microsoft Corporation Price and Consensus
Microsoft Corporation price-consensus-chart | Microsoft Corporation Quote
Upcoming Games to Boost Top Line
Xbox Game Studios announced the introduction of projects specifically designed for Xbox. These include titles like South of Midnight from Compulsion and Clockwork Revolution from inXile.
Additionally, Microsoft provided updates on the highly anticipated game Fable and offered insights into the future of the beloved Microsoft Flight Simulator franchise. To everyone's surprise, a remarkable revelation was also made with Sea of Thieves: The Legend of Monkey Island.
Microsoft is looking to boost its top-line performance with major games from Activision Blizzard ATVI, Ubisoft Entertainment UBSFY and Electronic Arts EA.
Ubisoft Entertainment, a French video game publisher, is headquartered in Saint-Mandé with development studios across the world. Ubisoft’s upcoming games are Far Cry 6, Assassin’s Creed Valhalla and The Crew 2.
Activision Blizzard is an American video game holding company based in Santa Monica, CA. ATVI’s upcoming games are Diablo IV and Overwatch 2.
Electronic Arts is an American video game company headquartered in Redwood City, CA. EA’s upcoming games are F123 and Immortals of Aveum.
Microsoft’s Acquisition Plan to Increase Dominance
This Zacks Rank #3 (Hold) company is building an Xbox mobile store, which will offer games directly to mobile devices. Microsoft is set to acquire Activision Blizzard to build on its already existing communities of gamers. It would make MSFT a leader in the gaming market which is the main reason for regulatory bodies opposing the deal.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for MSFT’s 2023 earnings is pegged at $9.65 per share, indicating year-over-year growth of 4.78%. The consensus estimate for fourth-quarter 2023 revenues is pegged at $55.35 billion, indicating year-over-year growth of 6.73%.
For fiscal fourth quarter, Microsoft expects Xbox content and services revenue growth in the low- to mid-teens due to third-party and first-party content as well as Xbox Game Pass.
Shares of Microsoft have gained 38.4% year to date compared with the Zacks Computer and Technology sector’s growth of 32.4% in the same period.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Activision Blizzard, Inc (ATVI) : Free Stock Analysis Report
Electronic Arts Inc. (EA) : Free Stock Analysis Report
UbiSoft Entertainment Inc. (UBSFY) : Free Stock Analysis Report
