Comcast theme parks swung from nearly $3 billion in profit to $500 million in losses “in a flash” during 2020, but their current outlook is “encouraging,” CFO Mike Cavanagh said.Cavanagh discussed parks, Universal’s film and TV operations, streaming service Peacock and other topics in an online appearance today at a Deutsche Bank investor conference.As the other major U.S.
parks operator along with Disney, Comcast has been known for “the strongest margins in the space,” Cavanagh said. After achieving break-even in the fourth quarter, the parks unit will “look to get profits back” this year as the coronavirus pandemic eases, the exec said.
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