Comcast, the parent company of NBCUniversal, released their earnings report for quarter 1 of 2023, which ended on March 31. The earnings include a significant revenue increase for Universal theme parks.
Comcast Q1 2023 Earnings
“We delivered strong first quarter results as our team executed exceptionally well,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation. “We grew Adjusted EBITDA and Adjusted EPS, and generated a significant amount of free cash flow. We accomplished all of this while continuing to invest in future growth initiatives. Also, importantly, we had solid revenue growth in our high-margin connectivity businesses, while increasing our Peacock subscribers more than 60% year-over-year. Our theme parks set a new record of Adjusted EBITDA for a first quarter. In addition, we returned a healthy amount of capital to our shareholders and maintained an enviable balance sheet. As we look ahead, we have great momentum across the company, including Studios where Super Mario Bros. has smashed global box office records to become one of the most successful movies of 2023.”
The company’s overall consolidated adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased 2.9% to $9.4 billion. The adjusted EPS (Earnings Per Share) increased 7% to $0.92.
The overall revenue and adjusted EBITDA for Content & Experiences, which includes Universal theme parks, decreased. Comcast points to their broadcasts of the Beijing Olympics and the Super Bowl in 2022 for last year’s higher numbers.
Theme parks had a successful quarter though, with a revenue increase of 24.9% from $1,560 million to $1,949 million and an adjusted EBITDA increase of 46% from $451 billion to $658 billion.
As Comcast notes, this quarter included the opening of Super Nintendo World at Universal Studios Hollywood. During last year’s quarter, international theme parks were still significantly impacted by the COVID-19 pandemic.
Super Nintendo World
Super Nintendo World officially opened in February 2023 at Universal Studios Hollywood. The enclosed land is immersive, transporting guests directly into the Mushroom Kingdom. Guests can meet Mario, Luigi, and Princess Peach. At Universal Studios Hollywood, the land’s only ride is Mario Kart: Bowser’s Challenge. Guests can also interact with the land using Power-Up Bands available for purchase. Read our full guide to Super Nintendo World at Universal Studios Hollywood.
The original Super Nintendo World opened at Universal Studios Japan in 2021. It’s similar to the Hollywood version, but with more space, so also has the Yoshi’s Adventure ride. A 2024 Donkey Kong-themed expansion will include a coaster inspired by the mine carts from “Donkey Kong Country.” Read our guide to Super Nintendo World at Universal Studios Japan.
Super Nintendo World will open at Universal Orlando Resort in the new Epic Universe park in the summer of 2025. It will include both the Mario and Donkey Kong areas. Check out our most recent Epic Universe update.
Super Nintendo World is also set to open sometime in the future at Universal Studios Singapore.