Comcast announces first quarter earnings, praises Harry Potter for theme park growth
Comcast announced their first quarter earnings report today, and once again the theme park section drives Comcast to incredible growth, in particular the newly opened Diagon Alley expansion at Universal Studios Florida.
The company announced that Diagon Alley helped them accomplish a 33.7 percent year-over-year increase in first-quarter revenue at the theme parks, with a total revenue of $651 million from the theme parks.
“Our strategy is very simple. We are going to invest in great attractions, probably about one a year at each of our major theme park locations.” said NBC Universal CEO Steve Burke.
“We think we have a fantastic creative group led by Mark Woodbury, who they are coming up with really cutting edge, great, very modern terrific attractions.”
Steve also mentioned continued growth of their hotel division mentioning “you will see a very significant hotel build out in Orlando over the next five or so years.” This is evident with the current construction of the upcoming 1,000 room Sapphire Falls Resort and the already opened Cabana Bay Beach Resort at Universal Orlando.
During the conference call it was also mentioned that nearly 80% of all guests buy a 2-park ticket. This could largely due in part to the new Hogwarts Express train ride that goes from park to park and a 2-park ticket is required.
Comcast reported overall operating income of $3.9 billion on revenue of $17.9 billion.
So it looks like the future is very bright at Universal Orlando as the resort continues to grow by leaps and bounds.
View the entire transcript of the earnings call and listen to it here.