You've missed my point. If you gave me 20 Billion dollars and several years later I gave you 1 Billion back that's not a 'profitable' business proposition, even if you write that Billion up as a yearly profit.
Can you find anything to suggest that the XBox project as a whole is in the red or black for Microsoft?
Well, the thinking is that once the division is profitable with profit graph going up it will keep bringing more money... Isn't this one of the basic presumption behind P/E's and stock market.
With so many xbox 360 users out there who will keep paying for Xbox live and buying new games and further innovation (Natal) and more features (Hulu integration) I suspect Xbox division will be profitable for some time.
Also, the numbers include money "invested" in kin and windows phone 7 so Xbox alone is probably making more money than the numbers suggest