The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, U.S., November 16, 2021. REUTERS/Andrew Kelly
February 7, 2022
(Reuters) -Hasbro Inc trounced analysts’ estimates for quarterly revenue on Monday, bolstered by a rebound in the toymaker’s television production business and demand for its collectible card game “Magic: The Gathering”.
Revenue from Hasbro’s entertainment business jumped 54% in the fourth quarter ended Dec. 26 as the company delivered new episodes of the Showtime series “Yellowjackets” and released a new “Clifford the Big Red Dog” movie.
In contrast, year-earlier results were knocked by production shutdowns brought on by the pandemic.
The company’s net revenue rose 17% to $2.01 billion in the fourth quarter, beating analysts’ estimates of $1.87 billion, according to Refinitiv IBES estimates.
Hasbro said it expects fiscal 2022 revenue to rise at a low single digit rate, compared with analysts’ estimates of a 3.9% increase, according to Refinitiv IBES estimates.
(Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)
Source: One America News Network
