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The results are in as Universal Orlando owners Comcast reports 1st Quarter Results with BIG Profits!

Comcast, the parent company of NBCUniversal have revealed that theme park revenue is up 25% to $1.95 billion in the first quarter.


Universal Orlando owners Comcast reports 1st Quarter Results

Comcast, the country's leading provider of broadband connectivity and cable television, and of course owners of Universal theme parks around the world, including here in Orlando, posted better-than-expected financial results on Thursday morning.


And unlike Comcast's flagship broadband connectivity, which is flat -- or its cable TV platform, which is going downhill, its the theme parks business that is booming!


The bottom line is even better, as the segment's adjusted operating profit soared 46% to $658 million. This is a new first-quarter record for the business.


Comcast credits the healthy top-line gain to the strength at its international theme parks in Tokyo, Singapore, and Beijing that were limited by COVID-19-related restrictions a year earlier.


But it's not just the international parks that are flying, it also experienced strong top-line gains at its domestic theme parks, and it singled out the popularity of its Super Nintendo World land, which opened at Universal Studios Hollywood in February.


"The business overall is really rocking," Comcast President Mike Cavanagh said. "I would be remiss by not calling out first the the quarter that the international side had. [Universal Studios Japan] had all-time highs for attendance, per caps, revenue and EBITA for first quarter since it opened in 2001. And likewise in China, we generated significant profitability in a tougher season and the highest-ever quarterly attendance, despite it being wintertime.

"So that's the international side, and on the domestic side things continue to perform really well. In Hollywood, we had Super Nintendo World open, driving really strong attendance and per caps. They're way ahead of last year and pre-pandemic levels on the back of excellent guest feedback. And in Orlando, really solid results in the quarter. We had unprecedented visitation last year, way ahead of 2019, pre-Covid. So as expected growth rates have slowed down, but performance continues to be solid, and go forward, booking still looks solid - similar pattern to Q1 of last year. So far, things continue to look good as we look ahead on the domestic side."



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