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
No Obama Bounce For DNC Day 3 Ratings As They Fall Behind RNC, 'Wayward Pines' Finale Down From 2015
Bill Maher On Hillary Clinton Nomination: "First, Lady Ghostbusters And Now This. America's On A Roll!"
Latest Film News
- ‘Jason Bourne’ Nabs $4.3M – Thursday Box Office Previews
- ‘Nerve’ Box Office Takes Est. $2.3M Thursday To Cull $6M In Three Days
- Steve Guttenberg “Moved” By Bill Clinton’s ‘Police Academy’ Love
- ‘Command And Control’ Trailer: Inside One Of The Cold War’s Tensest Moments – TCA
- ‘Suicide Squad’ Adds Ezra Miller’s The Flash To Mix
- Chris Evans Circling Lead Role In Lionsgate’s ‘Jekyll’