October 26, 2023, 3:47 PM ·
Universal’s theme parks took in more than $2.4 billion in revenue in the third quarter of 2023, parent company Comcast reported today. That helped drive the parks’ adjusted earnings to the highest level in corporate history.
Comcast reported adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were up 20% year over year for its theme parks during the quarter, to $983 million. Universal attributed its growth to “higher revenue at our international theme parks, which had Covid-19 related restrictions in the prior year period, and higher revenue at our domestic theme parks, including Universal Studios Hollywood due to the continued success of Super Nintendo World, partially offset by lower revenue at our theme park in Orlando.”While revenue was down year over year in Florida, Comcast noted that Universal Orlando’s revenue continue to be “above comparable pre-pandemic 2019 levels.””The reaction to Nintendo and Hollywood in Japan continues to be fantastic, and we’re very excited about bringing the experience to Florida soon,” Comcast President Mike Cavanagh said. “I was just in Orlando with the parks leadership team last week, reviewing our plans for the new Halloween Horror experience in Las Vegas and kids theme park in Frisco, Texas. I also spent a few hours on a site tour of the Epic Universe park, which is deep in construction and is simply breathtaking. “So thanks to the momentum of our third quarter results and what we have in the pipeline, I could not be more excited about our parks business.”* * *
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