As its fantasy tabletop role-playing game “Dungeons and Dragons” has become more and more popular, Hasbro’s revenue has been soaring. However, the latest boost comes at a time when the toy manufacturer is gaining additional profits from its film and television production department.
Hasbro’s shares It rose 2.3% in pre-market trading on Monday.
Hasbro has made major moves in recent months, including the launch of new content for children’s shows such as “Peppa Pig” and “My Little Pony”, as well as the launch of TV series “Cruel Summer” and “Rookie”.
Entertainment part company Composed of Entertainment One studios and other businesses, this quarter grew by 47%.
elsewhere, Hasbro As parents seized popular role-playing and board games to entertain their children trapped inside, quarterly income increased by 54% throughout the pandemic.
The 54% increase reached 1.32 billion U.S. dollars, which exceeded analysts’ expectations. Their average estimate was 1.16 billion U.S. dollars.
“Hasbro performed well in the second quarter. Revenue increased by 54% compared to the second quarter of last year and 9% compared to the forecast for the second quarter of 2019.” Goldner (Brian Goldner) said. Hasbro, Said in a statement.
Although Dungeons & Dragons has greatly helped Hasbro’s growing income, it is not the only toy needed. Toy sales from movie franchises such as Marvel’s superheroes “Black Widow” and the Disney+ series “Falcon and the Winter Soldier” also contributed.
“Hasbro’s revenue from toys, games and entertainment has grown because of the strong delivery of our entertainment products,” Goldner added.
“The Hasbro team is performing at a high level and enhancing our brand blueprint to drive demand for our brand and content, as we are achieving our goal of double-digit revenue growth throughout the year and preparing us for profitable growth , Not just in this year, but also in the next few years.”
Photo: Reuters
