It's easy to presume the worst. Comcast (NASDAQ: CMCSA) is not only a major player within the struggling cable television industry, but it is also the parent to the NBC network and Universal Studios; COVID-19 has been tough on the movie and theme park businesses too. The end of the pandemic is in sight, but that end is still only on the distant horizon.
There's a reason Comcast shares remain within reach of the record highs hit just last month, though. That is, the coronavirus contagion has arguably done this company more good than harm, and more such upside is still to come.
Don't misread the message. Last year was an off-year for Comcast, to be sure. Cable network revenue for the year fell 6%, while its filmed entertainment revenue tumbled nearly 19%. Its theme park business slumped by a stunning 69%. Overall earnings before interest, taxes, depreciation, and amortization (EBITDA) was 10% lower, and operating earnings per share for 2020 came in almost 17% lower than 2019's figure.
Source Fool.com