Universal Theme Parks Revenue Increases Over 40% in 3rd Quarter of 2022

Comcast has released their report about the third quarter of 2022, in which they report a significant increase in revenue from Universal theme parks. The increase is partially thanks to Universal Beijing Resort, which opened last year, although it has had to close twice now due to COVID-19. U.S. and Japan theme parks have also been able to increase their capacity, resulting in increased attendance and guest spending.

Universal Orlando Resort globe at sunset

Read more from the report below.

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.

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