Microsoft reports sinking Xbox revenue as its cloud business climbs

Microsoft's Xbox hardware revenue continues to tumble, with the company revealing a 33 percent decline as part of its earnings report released on Wednesday. Even though the rest of Microsoft's consumer-focused division took a dip, the company's cloud and productivity businesses continue to soar, driving the company toward $82.9 billion in revenue.

Along with declining Xbox hardware revenue, Microsoft reported a 5 percent drop in Xbox content and services as well. Microsoft has seen a significant...