Microsoft has released its latest financial report, which shows that Xbox revenues have fallen by 24 per cent to $306 million.

It’s clear that the Xbox One is underperforming in sales, hence why we’ve seen so many price cuts in the past year and no actual figure on sales released to the world. Why would Microsoft want to shout about poor sales?

Experts estimate that the Xbox One has sold around 12 million units worldwide, compared to the 21 million PlayStation 4 has sold.

The report also highlights that Xbox console sales are down by 20 per cent, which includes both the 360 and Xbox One.

The only good bit of news is that Xbox Live usage has risen by 30 per cent over the last year and the number of users are up by 18 per cent.

Is there still a future for Microsoft in gaming?

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