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Month: October 2025

Comcast: Epic Universe gives boost to quarterly earnings report

Comcast: Epic Universe gives boost to quarterly earnings report

Theme park revenue climbed 18.7% in the third quarter for Comcast Corp., propelled by the early months of operation of Epic Universe, the company reported Thursday.

The attractions segment, which includes Universal Orlando as part of Comcast’s content and experiences division, took in $2.7 billion in the quarter that ended Sept. 30. Epic Universe theme park debuted May 22.

“We’re really pleased with the early results from Epic, which are driving higher per-cap spending and attendance across the entirety of Universal Orlando,” said Jason Armstrong, Comcast’s chief financial officer.

Officials said the new park is performing as designed by making the resort more of a draw to weeklong visitors.

“The full resort of Orlando is very strong,” said Mike Cavanagh, Comcast president. He said there has been less “cannibalization” of Universal Studios and Islands of Adventure, the pre-existing parks of Universal Orlando, than anticipated.

The queue for Harry Potter and the Battle at the Ministry takes guests inside the Ministry of Magic at Universal Epic Universe on April 5, 2025. Orlando's first new theme park in a generation is set to open to the public on May 22. (Patrick Connolly/Orlando Sentinel)
Comcast executives say increasing the ride capacity for Epic attractions such as Harry Potter and the Battle at the Ministry will be a focus going forward. (Patrick Connolly/Orlando Sentinel)

“Our focus now is just driving increased ride capacity. It’s a new park and very technologically advanced, so working on the labor and the kinks to drive it to full capacity,” said Cavanagh, who will become co-CEO of the company in January. read more

China says it will work with US to resolve issues related to TikTok

China says it will work with US to resolve issues related to TikTok

By BARBARA ORTUTAY, Associated Press Technology Writer

President Donald Trump’s meeting Thursday with China’s top leader Xi Jinping produced a raft of decisions to help dial back trade tensions, but no agreement on TikTok’s ownership.

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“China will work with the U.S. to properly resolve issues related to TikTok,” China’s Commerce Ministry said after the meeting.

It gave no details on any progress toward ending uncertainty about the fate of the popular video-sharing platform in the U.S.

The Trump administration had been signaling that it may have finally reached a deal with Beijing to keep TikTok running in the U.S. read more

Halloween is a challenge for chocolatiers as high prices bite

Halloween is a challenge for chocolatiers as high prices bite

By Ilena Peng, Bloomberg News

Halloween is shaping up to be a test for the chocolate industry, as high cocoa costs threaten to accelerate a consumer shift toward cheaper and trendier sweets such as sour gummies.

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For candy makers, Halloween remains crucial — the holiday made up nearly 18% of annual U.S. candy sales last year, second only to Christmas. But chocolate makers have been passing along costlier input prices to consumers, and that’s leaving an opening for rivals — who have already seen a shift toward non-chocolate treats — to grab more market share. read more

A look at consumer prices 9 months into the second Trump administration

A look at consumer prices 9 months into the second Trump administration

After a weekslong delay because of the federal government shutdown, the latest report on consumer prices has arrived, giving Americans a glimpse at how President Donald Trump’s economic policies are impacting everyday costs everywhere from the grocery store to the gas pump.

Across the board, inflation accelerated in September, with prices rising 0.3% — though slightly less than the 0.4% in August. Consumer costs are also 3% higher than they were a year ago, an increase economists largely attribute to surging food and energy costs as a result of the president’s sweeping tariffs.

Still, nine months into the second Trump administration, the data ran somewhat counter to what many economists anticipated, particularly following the latest round of import tax hikes that took effect in early August. The cost of bananas is at a record high, but beef prices have finally fallen, utility expenses are down month-over-month and other goods only saw minimal changes in cost in September.

The better-than-expected figures come as a spate of good news for money-conscious Americans, particularly as many may lose their SNAP benefits in the coming days — including nearly 2 million Illinoisans. read more

Starbucks halts 2-year sales slide, but costly improvements hurt its profits

Starbucks halts 2-year sales slide, but costly improvements hurt its profits

By DEE-ANN DURBIN

Starbucks halted a long sales slide in its fiscal fourth quarter as pumpkin drinks and improved service brought customers back to its stores.

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The Seattle coffee giant said Wednesday that its global same-store sales, or sales at locations open at least a year, rose 1% over last year in the July-September period. It was the first time in nearly two years that the company posted an increase in same-store sales.

That increase was largely due to international markets, where same-store sales rose 3%. In the U.S., same-store sales were flat; spending per transaction was up 1% but transactions were down 1%. Still, that was an improvement from the third quarter, when U.S. same-store sales fell 2%. read more