TY.I don't think any Olympics since LA 1984 has made a profit (don't know about the winter ones) if this article is to be believed.
Of course the IOC make their billions. Part of the reason a don't really want Brisbane to get 2032, and also part of the reason Brisbane seems to be the only city that really wants them.
The number of events really needs to be scaled back. If the Olympics is not the highest honour for a particular sport (ie, tennis, soccer etc. where the best don't really care), it shouldn't be in the Olympics.