Apparently just reading a few pages of this thread, no, most of us don't.
MS has used the word "profitable" with the Xbox division every now and then in the past few years. Realistically speaking, most of us don't second-guess execs on financial and earning calls when they say that word, so naturally most would assume "bad start, but they're fine now."
Thurrot is saying that current Xbox isn't profitable, and that Nadella is using PR-wordplay where 'growing profitably' actually meant "still in red, but we'll eventually be profitable on our current growth trajectory."
Console business is such a shit-show of low margins that it's not impossible that either PlayStation or Xbox could be in the red, even with revenues surpassing 9 billion a year.
Let's do some random maths. If we assume the operating profit margin is 6% and the business is worth 10 billion in revenue, that means that the company's profits are just 600 million dollars.
A lot of money. But all it takes is for a company to go crazy in terms of bundles
( AssCreed bundle in 2014 was estimate worth a billion in lost revenue, afaik ) and for some AAA games with big marketing to sell badly and all the profit estimate goes poof.