The head of Xbox Phil Spencer has said that the division will make $1 billion in revenue.

As reported by GI.biz, the exec made this remark during a What's Next For Gaming panel, saying that this is the first time that Microsoft's games business will have made this much in one year. Spencer also said that Xbox was far from over the hill and in fact had twice as many players as

"I often get asked 'how are you doing?' I'll get people who will harken back, some people in this room, to the Xbox 360 years as being the heyday of Xbox," Spencer said.

"And I was there, and I love what Xbox 360 meant for where we are today. But for you to understand, our business right now, from a revenue standpoint, is about twice the size it was during the Xbox 360 generation.

"When you think about players, we have never had more Xbox players than we have right now, which we feel is the real scorecard for us right now in terms of the number creators and number of players. On the business side, we don't try to lead with this because it's kind-of boring stuff, but we announced last quarter for Microsoft was our biggest non-holiday gaming quarter in the history of us being in the gaming business.

"We have more players than we've ever had, and we are always looking to find new players and creators. Even on PC, which has been a real focus for us as team. Which is part of the catalyst for what Bethesda can do, because they have a real history there. We are going to do $1bn in PC revenue this year, for the first time ever for us at Microsoft."