Universal Orlando posts record quarterly results thanks to Wizarding World
Thanks to the opening of the Wizarding World of Harry Potter theme park earlier this year at Universal Orlando, the resort has posted its best quarterly results in its history. From the Orlando Sentinel:
Attendance at the two-park resort soared a staggering 36 percent in the third quarter, climbing by 1 million visitors, from 2.7 million in 2009 to 3.7 million this year.
The results showed Universal is reaping a financial windfall from Wizarding World, the $200-plus million collection of rides, shops and eateries that has drawn enormous crowds to the resort since opening in June.
Universal’s quarterly revenue skyrocketed 62 percent to $364 million, fueled by sales of tickets and Potter-themed merchandise ranging from mugs of butterbeer to magic wands.
Operating profit more than doubled, from $61 million a year ago to $127 million during the three-month period that ended Sept. 26. And net profit nearly tripled, from $37 million to $97 million.