Comcast Releases Q3 2022 Earnings Report Showing Strong Demand at Universal Parks

Earlier this morning, Comcast publicly released the Q3 2022 Earnings Report, which shows that Universal's theme parks (particularly the domestic parks) continue to see very strong demand. Here's the portion of the report focusing on the Theme Parks segment of the company:

Theme Parks revenue increased 42.4% to $2.1 billion in the third quarter of 2022, reflecting increased attendance and guest spending at our parks in the U.S. and Japan compared to the prior year period, and an increase from the operations of Universal Beijing Resort, which opened in September 2021. Theme Parks Adjusted EBITDA increased 88.6% to $819 million in the third quarter of 2022, reflecting higher revenue, partially offset by higher operating expenses. The prior year period included pre-opening costs related to Universal Beijing Resort.

For the nine months ended September 30, 2022, revenue from the Theme Parks segment increased 71.6% to $5.4 billion, primarily reflecting improved operating conditions compared to 2021, when each of our theme parks in the U.S. and Japan was either operating at limited capacity or closed during certain periods as a result of COVID-19, as well as the operations of Universal Beijing Resort, which opened in September 2021. Adjusted EBITDA increased $1.3 billion to $1.9 billion, reflecting higher revenue, partially offset by higher operating expenses.

Looking to plan and book an Orlando-area vacation? Contact Destinations with Character Travel Services, LLC., specialists in all things Orlando, including Walt Disney World, Universal Orlando, and SeaWorld! Destinations with Characters is a Disney EarMarked agency and the official travel agency of Orlando Theme Park News!

PHOTO: © Universal Orlando Resort. All Rights Reserved.