SEATTLE — Microsoft Corp. says it will share with amateur game developers up to 70 percent of the gross revenue generated by games they sell online through the company’s upcoming Xbox Live Community Games section.

The company disclosed the financial terms Tuesday at its Gamefest game-technology conference in Seattle. Microsoft had outlined plans for the Community Games initiative earlier this year, without financial details.

When the system launches later this year, people who develop games through Microsoft’s XNA Creators Club ($99 annual subscription) will be able to sell them on the Xbox Live Marketplace, after going through a process of peer review.