Today, Comcast (NBCUniversal’s parent company) released its third-quarter earnings report. Within that report, it showed that NBCUniversal’s Theme Parks division led by Universal Orlando had its most profitable quarter since the first quarter of 2020.
The theme park division earned $1.4 billion in revenue for the third quarter, up significantly from the prior year at $385 million. The theme park division had an EBITDA (Earnings Before Interest, Taxes, Depreciation) of $434 million for the third quarter. In the third quarter of 2019, the theme parks division made $1.6 billion with an EBITDA of $731 million. So, it looks like things are getting closer to normal for theme parks in terms of revenue.
Universal’s Theme Parks division having a successful quarter comes relatively in part because of Orlando despite COVID travel restraints restricting international guests from visiting. Universal Studios Hollywood continues to recover from its long closure, and Universal Beijing Resort, their newest resort, had a successful opening.
After results like these, it seems like Comcast will be comfortable with heavy investment into its Theme Parks division for years to come.
Zach Perilstein is the Editor-in-Chief of the Boardwalk Times
