Universal’s theme parks performed very well during the second quarter of 2017, Comcast announced in an earnings report released Thursday.
- Comcast reported increased earnings in 2nd quarter
- Company cited strong growth at theme parks
- Highlighted the opening of Volcano Bay in Orlando
Theme park revenue increased 15.6 percent to $1.3 billion in the quarter. The company cited the timing of spring break vacations contributed to revenue growth. Adjusted EBITDA increased 17.3 percent to $551 million in the second quarter. That number was partially offset by increased operating expenses, the company said.
Attendance was also up at Universal theme parks, due, in part, to the success of The Wizarding World of Harry Potter in Hollywood, and the openings of Minion Park in Japan and Volcano Bay in Orlando.
Volcano Bay, which opened May 25, has been dubbed a water theme park. With a 200-foot-tall volcano as its centerpiece, the park features a virtual ride system, which allows guests to reserve times to ride certain attractions.
A recent report from the Associated Press said that guests have complained of long wait times because of the virtual line system. Universal Orlando spokesman Tom Schroder said that the company is aware of guests’ frustrations and said things have improved since the park’s grand opening.
NBC Universal’s capital expenditures of $338 million decreased 6.1 percent, reflecting the continued investment in theme parks.
Overall, Comcast reported an increased revenue of 9.8 percent ($21.17 billion), up from $19.27 billion in the same period last year.
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