The play and entertainment company revealed earnings that came ahead of expectations, as demand for games, movies and production division business returned to growth
Hasbro – the Monopoly and Dungeons & Dragons maker – reported an adjusted EPS of $1.05, well above the 47 cents initially estimated. The revenue beat forecast as well, with figures coming in at $1.32 billion. The market was looking for $1.16 billion.
According to the company's officials, vaccine rollouts and easing restrictions helped live-action television production to gain momentum in the second quarter. Moreover, the demand for its "Dungeons & Dragons" tabletop game rose. Hasbro Chief Executive Brian Goldner stated: "Consumer products revenue increased as demand remains robust for Hasbro toys and games and entertainment revenue grew as we are producing entertainment with strong deliveries."
At the moment of writing, Hasbro share price is up 4.30%. Since the beginning of the year, the company's shares are down 1%, underperforming the 15.12% surge of TECH100.
Sources: marketwatch.com, reuters.com
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