Universal Parks & Resorts'
Overall, Comcast’s consolidated revenue was up 14.2 percent from the previous year — to $21.3 billion. Earnings per share were 92 cents, up from 80 cents the previous year. Operating income increased 11 percent to $4.4 billion.
revenue and profit increased in the third quarter.
Universal Parks & Resorts’ third-quarter revenue and profit increased from the previous year, parent company Comcast Corp. reported Wednesday, although no mention was made specifically of its Orlando theme parks.
The company credited Universal’s Japan and Hollywood theme parks for the growth.
Comcast’s theme-park revenue jumped 60.6 percent to $1.4 billion. Without taking into account Universal Studios Japan — which Comcast acquired a majority stake in last year — revenue increased 16.1 percent. Comcast said that reflected higher attendance and per capita spending at the parks, driven by the successful opening of a Harry Potter area in Hollywood. The positive impact of a stronger Japanese yen also boosted revenue.
Operating cash flow rose 62.4 percent from the previous year to $706 million. Without the acquisition of Universal Studios Japan, the increase was 17.1 percent.
Comcast is the first of the three major theme-park operators in Orlando to report third-quarter earnings. SeaWorld Entertainment will report Nov. 8, Election Day. The Walt Disney Co. will release its earnings Nov. 10. Orlando tourism has had a relatively slow year, although there were signs of a rebound in September. Hotel occupancy in the region was up 7.3 percent in September compared with the previous year, according to research company STR.
Comcast noted that operating costs at its theme parks rose because of the opening of new attractions including Skull Island: Reign of Kong, which debuted at Universal Orlando’s Islands of Adventure this summer.
Comcast’s NBCUniversal division’s revenue soared 28.3 percent to $9.2 billion. Operating cash flow increased 31.5 percent to $2.1 billion. The Rio Olympics drove a huge jump in advertising, while the movie “The Secret Life of Pets” had the highest-ever opening in the U.S. for an original animated movie. Comcast Chief Executive Officer Brian Roberts told analysts the movie “gives us another valuable franchise.” NBCUniversal is already at work creating a new attraction based on the movie, although it has not said at which park.
Overall, Comcast’s consolidated revenue was up 14.2 percent from the previous year to $21.3 billion. Earnings per share were 92 cents, up from 80 cents the previous year. Operating income increased 11 percent to $4.4 billion.
Comcast’s stock closed Wednesday at $62.56, down 3 percent. spedicini@orlandosentinel.com or 407-420-5240