Microsoft said its subscription service Xbox Game Pass generated almost $5 billion in revenue over the past 12 months, its highest level since the product launched in 2017. The milestone was disclosed alongside fiscal fourth-quarter results that showed Xbox content and services revenue rising 13 %, lifting overall gaming revenue 10 % from a year earlier despite a 22 % drop in hardware sales. Chief Executive Officer Satya Nadella told investors the company now counts 500 million monthly active users across its gaming platforms and was the top publisher on both Xbox and PlayStation during the quarter, helped by cross-platform launches such as Forza Horizon 5 and an Oblivion remaster. Nadella added that about 40 first-party games are in development. The strong software and services performance follows Microsoft’s decision earlier this month to cut roughly 9,000 jobs, including in its gaming units. Chief Financial Officer Amy Hood cautioned that gaming revenue is expected to decline by mid- to high-single digits in the current quarter given a tough comparison with last year.