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SeaWorld says it is aggressively cutting costs as revenue and profit decline

SeaWorld says it is aggressively cutting costs as revenue and profit decline

As it reported year-over-year drops in third-quarter revenue and profit Tuesday, SeaWorld Entertainment said it is aggressively cutting costs.

SeaWorld generated $485.3 million in revenue during the third quarter, compared with $496.9 million the previous year.

Net income was $65.7 million, or 77 cents per diluted share. That compares with net income of $98.0 million, or $1.14 per share, a year ago. The results missed analysts’ estimates.

Overall, attendance was relatively flat. Visitation at the company’s Florida park locations increased 1.3% in the third quarter. SeaWorld attributed that to new attractions.

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