Growth at Universal Studios theme parks was tremendous for the prior year. Parent company Comcast seems to be ready for major investments as the division has become competitive with Disney for the theme park lead.
The Comcast Earnings Call is out and the news is tremendous for Universal Studios theme parks. According to the 2023 Q1 Earnings Report, Universal Studios’ revenue is up 46% year-over-year! If you’re wondering how much of that is due to Super Nintendo World and staying away from divisive issues, you’re thinking int he right direction!
Overall, Comcast had lower revenues, but much of that was due to a collapse of ratings for The Olympics (shocking how much that pulled down the rest of the company). The parks were so incredible that it’s not hard to see why cap ex investment is increasing even as a new theme park resort is under construction. The latest major rumor is that a Zelda Hyrule expansion is coming to Islands of Advenure in Orlando.
For the quarter ended March 31, Comcast reported earnings of $3.83 billion, or 91 cents per share, compared with $3.55 billion, or 78 cents per share, a year earlier. Adjusting for one-time items, Comcast posted earnings per share of 92 cents for the most recent period.
Revenue dropped 4% to $29.69 billion from $31.01 billion in the prior-year period, with the company noting that last year it had broadcast both the Super Bowl and Beijing Olympics during the first quarter.
The Philadelphia company said its first-quarter adjusted earnings before interest, taxes, depreciation and amortization grew 3% to $9.42 billion during the first quarter.
— Lillian Rizzo, CNBC
You can check out the entire earnings report, along with commentary and analysis, by watching the Valliant Renegade livestream with commentators Mike Canul and Jonas J Campbell.
For all the latest news that should be fun, keep reading That Park Place. As always, drop a comment down below and let us know your thoughts!
