Comcast Reports Q2 2024 Results – Expectations on Epic Universe

(eap) The US media and telecom group Comcast, to which belongs the theme park unit Universal Destinations & Experiences, yesterday presented its second quarter results (Q2) for the current financial year 2024, which ended on 30 June. With Adjusted Earnings per Share of USD 1.21 (approx. EUR 1.11), Comcast recorded a better quarterly result than initially expected by the company – the reason for this positive development is seen in strong growth in the company’s streaming service Peacock, which in turn helped to offset the rather weakening performance of the studio and theme park businesses. In the comparative period of 2023, the Adjusted Earnings per Share reached USD 1.13.

In the studio, i.e. film business, Comcast did not launch any blockbuster productions in the months from April to June of this year that would have built on the success of last year’s films ‘The Super Mario Bros. Movie’ and ‘Fast X’... The theme park business also recorded a 10.6 per cent decline in revenue compared to the same period last year, which is attributed to a slowdown in the general attendance rush of visitors following the pandemic. However, in particular Universal’s Epic Universe theme park currently under construction in Orlando (FL) is expected to boost the park business again – the opening of the new destination is planned for 2025.

“[…] In Studios and Theme Parks, we faced difficult comparisons to last year, but our upcoming film and TV content and the debut of Epic Universe bode very well for the future. More broadly, I am excited about the growth opportunities ahead, as our teams innovate and collaborate to connect our customers, viewers and guests to the moments that matter. The Paris Summer Olympics is a perfect example of this, where starting this Friday our company will be leveraging our most advanced technology and expertise in storytelling to provide millions of households in the U.S. with the finest, most expansive television and streaming coverage in media history for an Olympics or perhaps any televised event... and even more important, an experience they hopefully will never forget,” said Brian L. Roberts, Chairman and CEO of Comcast Corporation.

Epic Universe on Kirkman Road/Universal Boulevard will be Universal Orlando Resort’s fourth park destination and will comprise a total of five themed areas: “Celestial Park”, “Wizarding World of Harry Potter – Ministry of Magic”, “Super Nintendo World”, “How to Train Your Dragon – Isle of Berk” and “Dark Universe”. Details of the individual areas and their highlight attractions have already been announced. The opening is planned for summer 2025. ■