ORLANDO, Fla. — Universal's theme parks broke even again, a sign that the division is starting to recover from the COVID-19 pandemic.
What You Need To Know
- Universal theme parks broke even for the second consecutive quarter
- The parks have been operating under pandemic restrictions like limited capacity
- In an earnings call, the company said revenue was down 33.1% in the first quarter
Comcast, parent company of Universal Parks & Resorts, reported its first quarter earnings Thursday.
Revenue for the parks division was $619 million in the first quarter, down 33.1% from the same quarter the year before.
The company said the decrease was due to its parks — Universal Orlando and Universal Studios Japan — continuing to operate at limited capacity. Universal Studios Hollywood in California, which reopened to the public April 16, was closed during the quarter.
The division had a loss of $61 million.
Comcast executives were encouraged by the results, however, especially with the trends they're seeing at Universal Orlando, where executives said attendance has been rebounding and demand is high.
“We’ve been at or near capacity limits through spring break,” Chief Financial Officer Mike Cavanagh said in an investors call after earnings were released.
The news comes as international travel has yet to return to the Orlando area.
The rebound is also driven by excitement for new attractions. Universal Orlando has a new roller coaster opening this summer. Jurassic World VelociCoaster is set to open to the public June 10 at Universal’s Islands of Adventure.
Elsewhere, Super Nintendo World opened at Universal Studios Japan, and at Universal Studios Hollywood, a new attraction based on “The Secret Life of Pets” debuted when the park reopened.
The company also recently resumed construction of its new Epic Universe theme park after putting the project on hold for seversal months due to uncertainty surrounding the pandemic.
Ashley Carter - Digital Journalist
Ashley Carter is a digital journalist who covers the fast-paced and ever-changing world of Florida theme parks and attractions. She joined Spectrum News 13 in 2013 and produced around-the-clock news coverage — first on TV and then for the station’s digital platforms.