Hasbro Revenue Surges Amid Pandemic

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Hasbro
Hasbro--the multinational toy and board game company that owns brands such as Candyland, Play-Doh, Mr. Potato Head, NERF, Monopoly, Ouiji and more-- will be partnering with the leading social media game creator, Zynga, in order to produce new toys.

Hasbro has been experiencing a surge in revenue amid the rise in popularity of its fantasy tabletop role-playing game “Dungeons & Dragons.” However, the latest boost comes amid the toymaker’s additional profits due to its movie and television production unit.

Shares of Hasbro jumped 2.3% in premarket trading Monday.

Hasbro made major moves in the last few months, including landing new content for children’s shows like “Peppa Pig” and “My Little Pony” as well as the release of dramas “Cruel Summer” and “The Rookie.”

The entertainment portion of the company consisting of the Entertainment One studio and other businesses saw a 47% jump during the quarter.

Elsewhere, Hasbro has seen a 54% quarterly revenue increase throughout the pandemic as parents snagged popular role-playing and board games to entertain children stuck inside.

The 54% rise to $1.32 billion exceeded expectations from analysts who predicted an average estimate of $1.16 billion.

“Hasbro delivered an excellent second quarter, with revenues up 54% versus the second quarter of last year and 9% versus pro forma second quarter 2019,” said Brian Goldner, chairman and chief executive officer of Hasbro, said in a statement. 

Although “Dungeons & Dragons” were a major help to Hasbro’s growing revenue, it wasn’t the only toy in demand. Toy sales from movie franchises such as Marvel superheroes like the “Black Widow” and the Disney+ series "The Falcon and the Winter Soldier” also contributed.

“Hasbro toys and games and entertainment revenue grew as we are producing entertainment with strong deliveries,” Goldner added.

“The Hasbro team is performing at a high level and Supercharging our Brand Blueprint to drive demand for our brands and content slate as we track to our target of double-digit revenue growth for the full-year and position us for profitable growth not just this year, but also in future years.”


Hasbro

Photo: Reuters

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