23 Jan 2020
Universal revenue up as theme parks record earnings increase
BY Tom Anstey
Revenue at Universal's theme parks has risen significantly in 2019, with year-end results showing 4.4 per cent to US$5.9bn (€5.3bn, £4.5bn).
Up from US$5.7bn (€5.1bn, £4.3bn) in 2018, the results reflect increases in guest spending and higher attendance at Universal's parks. Revenue increases were however offset by higher operating expenses, with adjusted EBITDA of US$2.5bn (€2.25bn, £1.9bn).
Revenue for the quarter was also up for Universal's theme parks division, rising 3.2 per cent to US$1.56bn (€1.41bn, £1.19bn) in 2019. Adjusted EBITDA decreased however by 4.5 per cent to US$636m, with the higher revenue affected by higher operating expenses.
“Looking ahead, in 2020 we are leaning into exciting opportunities, including the debuting Super Nintendo World at Universal Studios Japan,” said Brian Roberts, chair of Universal's parent company, Comcast. “We delivered strong operational and financial results in the fourth quarter, capping another great year for Comcast."
Overall, Comcast recorded an earnings increase of 13.6 per cent – US$34.2bn (€30.1bn, £26bn), with revenues of US$108.94bn (€98.44bn, £83.1bn) for 2019.
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