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  • Writer's pictureGotta Go Orlando

Universal Orlando Resort Shows Exceptional Demand According To Comcast's Q1 Earnings Report

Great news for Universal theme park fans and for Orlando tourism, as Universal’s theme parks business continue to rebound from the COVID-19 pandemic and shows “no signs of slowing down,” according to Comcast executives.

The theme parks division’s parent company, Comcast have released its first-quarter earnings report for 2022, revealing how well the theme parks have been performing over the past few months.

Comcast’s Universal theme park business continued to recover after extended shutdowns due to the coronavirus pandemic. Revenue in the division soared more than 151% year over year to $1.56 billion, which exceeded analysts’ projected $1.44 billion, according to FactSet.

“Our recovery from the pandemic at theme parks has been fantastic and shows no signs of slowing down,” Comcast Chief Executive Officer Brian Roberts said in a statement.

For the quarter, parks revenue increased $941 million to $1.6 billion, a big improvement from the same quarter last year, when parks were still operating with capacity limits.

The company also praised Universal Orlando, which generated its highest adjusted EBITDA on record for a first quarter.

Overall, Comcast reported a net income of $3.55 billion.

Universal Parks & Resorts, the amusement park arm of Comcast’s NBCUniversal subsidiary, has vacation destinations spread across the globe. From Universal Studios Hollywood and Universal Orlando Resort in the United States to Universal Studios Japan, Universal Studios Singapore, and Universal Beijing Resort, the franchise has a large global footprint.

The profits generated by Universal Parks & Resorts are being reinvested in the company, party right here in Orlando, as they company are currently building Universal’s Epic Universe, a brand new theme park that will join Universal Studios Florida, Universal’s Islands of Adventure, Universal’s City Walk, and Universal’s Volcano Bay at the Orlando Resort.


Emma Walton News Producer

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