Universal theme parks break US$1bn barrier in first quarter with staggering results
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Prior to its acquisition of DreamWorks on 28 April, Comcast released its financial results for the first quarter of 2016, with its theme park division smashing expectations through a staggering 57.5 per cent jump in theme park revenues.
In Q1, Universal’s theme parks drew US$1.02bn (€901m, £701m) in revenue, up from US$651m (€575.3m, £447.3m) with operating cash flow for theme parks also jumping 53.6 per cent to US$375m (€331m, £257.7m), up from US$244m (€215.6m, £167.7m) in Q1 2015.
It’s been a busy period for Universal, with the opening of its new Harry Potter attraction at Universal Studios Hollywood and the acquisition of majority ownership of Universal Studios Japan, which the company acquired in late 2015.
Overall, Comcast reported a 5.3 per cent revenue increase to US$18.7bn (€16.5bn, £12.8bn) for the quarter, a rise from US$17.8bn (€15.7bn, £12.2bn) for the same period in 2015.
While Universal has been enjoying great success with its new attractions, the company is not resting on its laurels. During a conference call last year, Comcast promised one 'great attraction' a year at all Universal resorts, something it has so far lived up to with upcoming notable investments including Skull Island: The Reign of Kong for Islands of Adventure and its Volcano Bay waterpark in Orlando.
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