Universal Theme Park Revenue Rose 25% in the First Quater of 2023
Yesterday Comcast parent company of Universal Theme Parks released their first-quarter earning for 2023 which ended on March 31st.
“We delivered strong first quarter results as our team executed exceptionally well,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation. “We grew Adjusted EBITDA and Adjusted EPS, and generated a significant amount of free cash flow. We accomplished all of this while continuing to invest in future growth initiatives.
Also, importantly, we had solid revenue growth in our high-margin connectivity businesses, while increasing our Peacock subscribers by more than 60% year-over-year. Our theme parks set a new record of Adjusted EBITDA for the first quarter.
In addition, we returned a healthy amount of capital to our shareholders and maintained an enviable balance sheet. As we look ahead, we have great momentum across the company, including Studios where Super Mario Bros. has smashed global box office records to become one of the most successful movies of 2023.”
Related – Best Signature Cocktails at Universal Orlando’s CityWalk
Universal Theme Park revenue rose 25% to $1.95 billion, while adjusted EBITDA increased 46% to $658 million, the company reported.
The boost in revenue was mostly from the company’s international parks, which had been impacted by COVID-19 restrictions in the prior year.
Universal Orlando in Florida and Universal Studios Hollywood in California where Super Nintendo World just opened continue to do really well, according to executives.
Adjusted EBITDA for Theme Parks increased, reflecting higher revenue, which more than offset higher operating expenses. The increase in operating expenses was due to higher costs associated with increased guest attendance.
You can read the full Comcast Report here.
Super Nintendo World – Coming to Universal Orlando
Chairman and CEO of Universal Parks and Resorts Mark Woodbury made the announcement during the Super Nintendo World event in Universal Studios Hollywood.
“Soon, we’re going to add another Super Nintendo World to Universal Orlando Resort,” revealed Universal Parks & Resorts Chairman and Chief Executive Officer Mark Woodbury. “The worst kept secret in history.” With the first two being in Japan and California, the Orlando location will be the third worldwide.
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