That +12M figure was sell through. We already have shipment leaks from back in 2023, what I'm about to post is old news by 2 years. Ampere had sell through at
10.5M end of 2021 and
13.8M end of June 2022. 18 months (6 quarters) in would be +12M.
Source: FTC leak file multiple (CSA for FY22 was attached to a few files, PX 1114 is one of them)
Xbox Series Market Share FY21 Q1-3: 37%
Xbox Series Market Share FY22 Q1-3: 46% (+9)
Microsoft FY21: July 2020 - June 2021
Microsoft FY22: July 2021 - June 2022
PS5 Shipments in Microsoft's FY21 Q1-3: 7.8M (4.5M + 3.3M)
PS5 Shipments in Microsoft's FY22 Q1-3: 9.2M (3.3M + 3.9M +2.0M)
Gen 9 FY21 Q1-3: ~12.38M (PS5 7.8M / 0.63)
Gen 9 FY22 Q1-3: ~17.04M (PS5 9.2M / 0.54)
Xbox Series FY21 Q1-3: ~4.58M (12.38M - PS5 7.8M)
Xbox Series FY22 Q1-3: ~7.84M (17.04M - PS5 9.2M)
Xbox Series FY22 Q3 LTD: ~12.4M, missing FY21 Q4
Literal inarguable data above this comment, comes from Xbox internal slides leaked in the FTC files. Anything under this comment is almost guaranteed to be the case based on statements and revenue.
Phil Spencer says the target for FY22 is 9.6M consoles (Source: FTC leak file PX 1145)
We know they shipped 7.8M in FY22 Q1-3, leaving 1.8M for Q4 to hit 9.6M
Jim Ryan confirmed Xbox outsold PS5 for a 3 month period in 2021, only quarter that would make sense is holiday 2021 (based on
Satya Nadella saying Xbox took share from Sony in FY22 Q2 and Q3), where PS5 shipped 3.9M, meaning XBS shipped at least 4.0M that quarter.
Satya Nadella
Jim Ryan (RX 5059)
7.8M - 4.0M = 3.8M for Q1+Q3 FY22
3.8M / 2 = 1.9M
FY22 Hardware revenue
Q1 $711,000,000 / ~1.9M
Q2 $1,587,000,000 / ~4.0M
Q3 $725,000,000 / ~1.9M
Q4 $685,000,000 / ?
Xbox > PS5 for a quarter in 2021, not above PS5 in any other quarter, and the hardware revenue all line up with the 7.8M. Hardware revenue difference between Q1 and Q3 is 2% and Q2 is ~2.2x them. Q4 is ~5% less than Q1 and Q3, and 57% less than Q2. So 1.8M absolutely works here (-5% vs 1.9M, -55% vs 4.0M), everything points to Xbox hitting that 9.6M target for FY22. Only quarter missing would be FY21 Q4 (April - June 2021), so here's the hardware revenue for that FY
FY21 Hardware revenue
Q1 $267,000,000 / (Xbox One)
Q2 $1,526,000,000 / (Xbox One + Xbox Series)
Q3 $637,000,000 / (Xbox Series, this quarter + previous must equal 4.6M)
Q4 $767,000,000 / ?
A lowball for FY21 Q4 would be 1.8M since it's the highest non holiday revenue, just have it below 1.9M
FY21 Q2 $1,526,000,000 / ~3.0M / ~3.0M
FY21 Q3 $637,000,000 / ~1.6M / 4.6M
FY21 Q4 $767,000,000 / ~1.8M / ~6.4M
FY22 Q1 $711,000,000 / ~1.9M / ~8.3M
FY22 Q2 $1,587,000,000 / ~4.0M / ~12.3M (Stated to be fastest selling Xbox (>Xbox One))
FY22 Q3 $725,000,000 / ~1.9M / ~14.2M
FY22 Q4 $685,000,000 / ~1.8M / ~16.0M (Stated again to be fastest selling Xbox (>Xbox One))
Also, we have
direct from Sony the PS5 sell through per quarter up to March 2023 and sell through was equal to shipments until Q4 2022, in case the argument comes up that Xbox > PS5 was a sell through statement. These also line up perfectly with Satya's comment about taking share for two quarters in a row and Jim saying Xbox only materially outsold PS5 for 3 months in 2021. >4M for holiday 2021 and almost 2.0M in Q1 2022 matches with the above.
| Quarter | Sell Through | Shipments | Sell Through LTD | Shipments LTD |
|---|
| Q4 2020 | 4,400,000 | 4,500,000 | 4,400,000 | 4,500,000 |
| Q1 2021 | 3,200,000 | 3,300,000 | 7,600,000 | 7,800,000 |
| Q2 2021 | 2,300,000 | 2,300,000 | 9,900,000 | 10,100,000 |
| Q3 2021 | 3,200,000 | 3,300,000 | 13,100,000 | 13,400,000 |
| Q4 2021 | 4,000,000 | 3,900,000 | 17,100,000 | 17,300,000 |
| Q1 2022 | 2,000,000 | 2,000,000 | 19,100,000 | 19,300,000 |
| Q2 2022 | 2,300,000 | 2,400,000 | 21,400,000 | 21,700,000 |
| Q3 2022 | 3,000,000 | 3,300,000 | 24,400,000 | 25,000,000 |
| Q4 2022 | 6,600,000 | 7,100,000 | 31,000,000 | 32,100,000 |
| Q1 2023 | 5,000,000 | 6,300,000 | 36,000,000 | 38,400,000 |
Like I said at the start, this is all
old news. Nothing new here at all. I've seen some of the posts here still claiming Xbox is <30M and like I've said before, you don't know what you're talking about.