Xbox division earnings down 1% compared to last year

In today's most incremental news, Microsoft reported that its Entertainment and Devices Division, responsible for the Xbox 360 and Windows Phone, earned $1.95 billion in revenue in the first quarter of its fiscal 2013, down 1% from the same period last year.

1.7 million Xbox 360 consoles were sold in the quarter ending September 30. This is a 29 percent drop from last year. Microsoft expects division revenue (from Xbox, Windows Phone, Skype, and everything else the Entertainment and Devices Division manages) to continue dropping in the next quarter, but rise in "low single-digits" for the year.