Hasbro Q2 Earnings Down But With Strong Growth In Entertainment

The toy company provides little commentary in its Q2 earnings report this morning, including on its progress with kids channel The Hub (which it co-owns with Discovery) or movie licensing efforts. Hasbro delivered net earnings of $43.4M, -25.2% vs the same period last year, on revenues of $811.5M, -10.7%.The revenue figure fell short of the $830.1M that analysts expected. But earnings at 33 cents a share were well ahead of the forecasts for 23 cents. Last year’s Q2 was helped by sales of toys tied to Paramount’s Transformers: Dark Of The Moon. Without that boost, sales to boys — the biggest product category — dropped 16% to $389.1M. Still, revenues at the Entertainment and Licensing operation which includes The Hub were up 59% to $43.2M with an operating profit of $8.2M, up from $0.6M. Hasbro’s television programming efforts are “creating demand for our toys and games in global markets,” CEO Brian Goldner says. The company urged investors to look ahead to its plans to sell games in the holiday season.

This article was printed from https://deadline.com/2012/07/hasbro-q2-earnings-mixed-but-with-strong-growth-in-entertainment-305359/