Universal reports Q2 attendance loss, profit gain

Reporting its second fiscal quarter results, NBC Universal's parent company General Electric revealed that attendance at the company's parks was fell sharply compared to the same quarter last year, but profits rose despite the drop. According to the Orlando Sentinel, total parks attendance — which includes Universal Studios Florida and Islands of Adventure in Orlando, Universal Studios Hollywood, and Universal Studios Japan — was down by double digits year-over-year for the April-June quarter. The decrease appears even more drastic when considering that the Easter holiday fell during the first quarter in 2008 but in the second quarter of 2009, which should have provided a boost to this quarter's numbers. However, thanks to what company executives described as "strong cost control," the park division's operating profit actually rose 13% during the period. "Parks actually had a good quarter," GE CFO Keith Sherin said during a conference call with analysts.