Xbox division posts $1.9B loss over last year

by Gamepro Staff, GamePro, MacCentral

Microsoft announced on Friday that Xbox 360 losses for the fiscal year ending June 30 total $1.9 billion due largely to recent charges in its extended warranty plan to cover faulty consoles.

Xbox 360 shipments dropped to 700,000 units, down from 1.8 million during the same period last year. Total division revenues were down 10 percent off decreased 360 sales.

Microsoft remained confident, however, saying that the company would turn an operating profit on the Xbox division during 2008.

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