Blizzard carried Xbox's studios as hardware and content revenue declined

Blizzard was Xbox's top-performing studio in FY2026 (ended June 30), its third-highest revenue ever, according to an internal email from Blizzard president Johanna Faries. Meanwhile, Xbox content and services revenue fell 10% year-over-year in Q4 and hardware dropped 13%. Faries credited Overwatch and Diablo 4's Lord of Hatred expansion.