Universal Orlando parent reports lower attendance at theme parks -- but higher operating profit
From OrlandoSentinel.com
NBC Universal’s parent company, General Electric Co., reported Friday that total parks attendance during the April-through-June period fell by double digits from the second quarter of last year. Making the drop especially dramatic: It came despite favorable timing of the typically busy Easter holiday, which fell in the first quarter of 2008 but the second quarter of 2009.
And yet, the division’s operating profit jumped 13 percent during the period. GE executives credited “strong cost control” and the Easter timing benefit.
“Parks actually had a good quarter,” GE Chief Financial Officer Keith Sherin said during a conference call with analysts.
The entire story, after the break.
