Analyst: Xbox's turnaround efforts haven't worked, future remains bleak

Circana analyst Mat Piscatella said Xbox CEO Asha Sharma's moves have not improved sales or engagement: the disc-to-digital program didn't change physical software trends, and making Gears of War: E-Day console-exclusive didn't boost hardware sales. He added that pulling Call of Duty from Game Pass cut engagement with no benefit. Sharma targets matching Sony and Nintendo margins by 2027.

• Piscatella: disc-to-digital program didn't change new physical software sales
• Gears of War: E-Day Xbox exclusivity didn't boost console sales
• Removing Call of Duty from Game Pass cut engagement with no benefit
• Xbox margin is about 3% vs 9.9% for PlayStation and 16% for Nintendo