How is Steam profitable?

[ssj12]

shio said:

tarheel91 said:
Err, correct my if I'm wrong, but don't most Steam games have dedicated servers run by users? If that's the case, they shouldn't have to deal with too much server upkeep beyond download/cloud servers, right?

Steam owns over 150 Thousand Servers...

They dont own all those servers. They own the base Steam servers and probably some CS/HL/TF servers. All other servers are using their software to appear on the server browser.