Microsoft recently released their quarterly financial statement. While the company remained steadfast in some parts of their business, their Xbox sales slipped down to a degree.

According to their quarterly report posted on the company's website, Microsoft's Xbox console has declined in sales to up to 17 percent compared to last year. Apparently, the slow sales of Xbox 360 contributed to the console's low quantity of units shipped.

Last year, Microsoft was able to ship around 2.4 million combined units of Xbox One and Xbox 360. However, this year, the tech giant declined to disclose the number of units sold. Despite the Xbox console slipping in terms of sales, Microsoft's Game sales and Xbox Live Users increased.

The sales of Microsoft's Xbox games experienced an upsurge, reaching to up to 66 percent on sales growth. The success on their game sales has been largely attributed to Minecraft, the franchise that Microsoft invested $2.5 billion to include it in their game line-up.

However, one can hardly say that it's an Xbox exclusive as Minecraft games are largely present in other console brands and platforms.

Moreover, the number of Xbox Live users has also increased and is now at more or less 39 million users. In a detailed financial statement released by Microsoft, their listed GAAP revenue reached $20.4 billion. Microsoft's operating income reached $5.8 billion GAAP while their NET Income was listed at $4.6 billion GAAP.

The Venture Beat notes that Microsoft has already gone as far as having a price drop on their Xbox console as well as offering bundles and exclusive games to its users. Rumors also circulated that Microsoft is planning on having a Black Friday sale, which will offer the Xbox One console along with the "Gears of War Ultimate," "Fallout 4" and an extra controller for just $300.

In a previous report by Video Gamer, Xbox executive Phil Spencer said that he's not worried that the PlayStation 4 has been deemed ahead of the Xbox One. Instead, they are more concentrated in providing the best games to their fans. He also implied that the company is not focused on the competition in the gaming world but on what they can offer to their fans.

Spencer's statement came after he was asked whether Xbox One will ever beat PlayStation 4, where he honestly stated his hesitation. He even acknowledged Sony's superiority, but that didn't stop the executive from pointing out how much he loved their games and content.