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Universal Theme Park Revenue Drops 94% Q2 2020

News - PARKS 30-Jul-2020

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Comcast Corporation (who owns Universal Studios) has released their quarterly earnings report for the pandemic Q2 2020 quarter. They reported a 94% drop in revenue for their theme parks.

Comcast (NASDAQ:CMCSA) gains 2.4% pre-market after the Q2 results beat top and bottom line estimates despite reflecting the pandemic's impact.

NBCUniversal revenue was down 25% Y/Y to $6.1B due to lowered ad spending and the pandemic-related closure of theme parks. The latter's sales dropped 94% to $87M.

Universal Orlando reopens earlier than Walt Disney World, so it will be interesting to see The Walt Disney Company's quarterly earnings on August 4th to see how the pandemic has impacted them financially.

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