News Column

BRIEF: Theme park spending helps drive Comcast earnings growth

July 22, 2014

By Sandra Pedicini, Orlando Sentinel



July 22--Higher attendance and per-capita spending at Universal Orlando and other theme parks owned by Comcast Corp. drove a 12.8 percent jump in second-quarter revenue, the company reported Tuesday.

The theme parks brought in $615 million during the quarter, which ended in June. They also benefited from timing of the spring holidays, the company said.

Overall for Comcast, consolidated revenue increased 3.5 percent to $16.3 billion. Earnings per share spiked 16.9 percent to 76 cents.

Second-quarter operating cash flow for theme parks jumped 5.6 percent to $244 million. That resulted from higher revenue. It was offset in part by additional marketing and training costs related to the Wizarding World of Harry Potter -- Diagon Alley, which opened July 8 at Universal Studios Florida.

So far this year, theme-park revenue has increased 9.4 percent to $1.1 billion. Operating cash flow has increased 2.5 percent to $414 million.

At Comcast's NBCUniversal division, capital expenditures increased 14.3 percent to $298 million in the second quarter, primarily from increased theme-park spending.

spedicini@tribune.com

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(c)2014 The Orlando Sentinel (Orlando, Fla.)

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Source: Orlando Sentinel (FL)


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