Universal celebrates Harry's magic and a feast in the east following huge Q2 earnings success
by Tom Anstey | 27 Jul 2016
Theme park revenue across the board rose by 47 per cent to US$1.1bn
Universal's theme park division saw its Q2 revenue surge by 47 per cent year-on-year as a result of higher consumer spending due to the launch of a new Harry Potter-themed attraction and its Japanese expansion.
The jump in revenue to US$1.1bn (€999m, £837m) was attributed the launch of launch of its new Wizarding World at Universal Studios Hollywood while the company’s acquisition of a majority stake in Universal Japan had a significant effect on income with operating cash flow for the Osaka theme park increasing by 5.3 per cent.
Without the Japanese influence, theme park revenue for Universal rose by 10.6 per cent, which Comcast said reflected a higher per-guest spend at its new Potter attraction in California.
Operating cashflow for the theme parks experienced an increase of 40.5 per cent to US$469m (€426m, £357m), while its half year results were also impressive.
For the six months ending 30 June 2016, revenue increased by 51.8 per cent to US$2.2bn (€2bn, £1.7bn).
Overall, Comcast’s revenue year-on-year increased by 2.8 per cent, reaching US$19.3bn (€17.5bn, £14.7bn) over an expected US$18.99bn (US$17.25bn, €14.45bn) prediction.
While Universal has been enjoying great success with its new attractions and acquisitions, the company is not sitting back. During a conference call last year, Comcast promised one 'great attraction' a year at all Universal resorts, something it has so far lived up to with notable investments including Skull Island: The Reign of Kong for Islands of Adventure, its revamped Incredible Hulk rollercoaster, Walking Dead attraction and its Volcano Bay waterpark. The company also has plans for a new Nintendo attraction in Japan which will dwarf its existing Harry Potter attractions.
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Universal's theme park division saw its Q2 revenue surge by 47 per cent year-on-year as a result of higher consumer spending due to the launch of a new Harry Potter-themed attraction and its Japanese expansion. The jump in revenue to US$1.1bn (€999m, £837m) was attributed the launch of launch of its new Wizarding World at Universal Studios Hollywood while the company’s acquisition of a majority stake in Universal Japan had
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