LogFAQs > #978767503

Saying investments are costly doesn't mean its operating at a loss. Saying it isn't "a big profit play" also isn't saying its operating at a loss. If the only concrete numbers we have are that it's making $3+ billion a year, at the very least it's more reasonable to say they're making money than the alternative, which would be game pass costing them more than $3 billion a year in operating costs.

Also, I have no idea which link you used for that quote, but going by this one there's a lot more to the story than that quote in isolation:
https://www.pcgamer.com/xbox-game-pass-isnt-a-big-profit-play-now-says-microsoft/

"It's a different mindset," Greenberg says. "You can either say, 'How we do get as much profit out of each customer?' Or, do you pivot that opposite and say, 'How do we add as much value to our fans?' 'How can we actually over-deliver on value?' And if you do that, you build fans for life. And if people feel like you're over-delivering on value, they want to not only continue to use your service, but they want to tell their friends about it. That is actually the most powerful marketing; it's word of mouth marketing."

He wasn't saying it was a loss. He was specifically saying their primary short-term focus is value and not maximizing profit.

EDIT: Here, definitive proof:
https://www.vgchartz.com/article/459235/phil-spencer-game-pass-is-profitable-spends-over-1-billion-to-add-3rd-party-content-to-game-pass/

"We have a service that is financially viable, meaning it makes money, in Game Pass," said Spencer. "We've put a lot of money into the market, over a billion dollars a year supporting third-party games coming into Game Pass.