The Hub, Hasbro’s joint-venture kids network with Discovery Communications that launched in October, didn’t do much for the toymaker’s first-quarter earnings announced today. Although Q1 is usually a slow time for toys as it comes after the holidays, the company missed Wall Street expectations as it reported its net income fell 71%, from $58.9 million a year ago to $17.2 million. Costs related to launching The Hub were cited as part of the dragging-down. The bright side is that Hasbro has a slew of toys tied to summer tentpole movies like Marvel properties Thor and Captain America: The First Avenger and Transformers: Dark of the Moon, which are expected to goose revenue for the full year.
Spendy Launch Of The Hub Network Hurts Hasbro Earnings
What's Hot on Deadline
Oscars: Best Picture Envelope Disaster Can't Take Away Triumph Of Best Academy Awards Show In Many A Moon(light)
Emma Stone On 'La La Land' & 'Moonlight' Best Picture Snafu: "I Was Holding The Best Actress Card The Entire Time"
Latest Film News
- The Academy On Best Picture Oscar Snafu: “We Deeply Regret The Mistake”
- PricewaterhouseCoopers Takes “Full Responsibility” For Best Picture Blunder In New Apology
- PwC Exec Cancels CNN Segment “Apparently On Orders From The Academy,” Anderson Cooper Says
- U.S. State Department Deletes Tweet Congratulating Iranian Director After ‘Salesman’ Oscar Win
- Jaime King To Stir It Up In ‘How To Cook Your Daughter’
- Netflix Sees $1.5B Lawsuit From Relativity Slimmed Down By Judge