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If you assume that:
XBox Games = making money
PC Games = making money
XBox Accessories = making money
XBox Live = making money

Then:
XBox Console, without taking into account RROD still LOST money in FY 2007 (for July 2006 to Jun 2007)

So in summary, XBox (based on FY2007 info) - has quite a long way to go still.
Even stripping the RROD charge, the actual business is still operating at a loss.

If the Windows Mobile Division is making money (as opposed to breaking even, in this assumption), then the XBox Division is losing even more money.

However, if the Zune division lost more than $200 Million, as per the original assumptions, then the XBox Division lost less money.