Comcast CFO: Universal Studios Off to ‘Great Start’ in 201422 Apr, 2014 By: Erik Gruenwedel
Key theatrical titles just released into retail channels
Universal Studios April 22 reported first-quarter (ended March 31) operating cash flow (profit) of $288 million, which was up 31% from operating cash flow of $219 million during the previous-year period.
The studio, which includes Universal Studios Home Entertainment, said revenue increased 11.1% to $1.4 billion compared to $1.2 billion in the first quarter of 2013. Notable drivers included higher theatrical revenue from Ride Along and Lone Survivor and the international performance of The Wolf of Wall Street.
Buddy film Ride Along, starring Ice Cube and Kevin Hart grossed $134 million at the domestic box office, and was released at retail April 15. Wolf of Wall Street ($117 million) was released March 25.
War flick Lone Survivor ($125 million) starring Mark Wahlberg, won’t be released into retail channels until June 3.
“Filmed entertainment is clearly off to a great start,” Comcast CFO Michael Angelakis told analysts.