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Theme parks generate $1.3bn for Comcast in first quarter

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Theme parks generated $1.3bn for Comcast in the first quarter of 2018, a 15% increase on the same period the previous year.

Comcast is the parent of NBCUniversal which owns and operates Universal Orlando Resort, Universal Studios Hollywood, Universal Studios Japan and Universal Studios Singapore.

The increase in revenue has been attributed to the timing of the Easter holidays as well as the popularity of new attractions such as Volcano Bay in Orlando, Minion Park in Japan and The Wizarding World of Harry Potter in California.

Theme parks’ adjusted earnings increased nearly 25% to $495m in the first quarter, “reflecting higher revenue, partially offset by an increase in operating expenses,” the earnings report said.

Brian Roberts, CEO of Comcast, said: “NBCUniversal delivered double-digit growth, fuelled by impressive results at our theme parks, as well as our TV businesses’ successful broadcasts of the NFL’s Super Bowl LII and the 2018 PyeongChang Olympics.”

The first quarter results build on a successful 2017 for Comcast which saw theme park revenue soar. For the full year, revenue from its theme parks increased 10% to $5.4bn compared to 2016. Adjusted earnings rose 8.9% to $2.4bn.

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