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Toymaker Hasbro revenue beats as TV, film business rebounds

Published 07/26/2021, 06:34 AM
Updated 07/26/2021, 06:47 AM
© Reuters. FILE PHOTO: A Monopoly board game by Hasbro Gaming is seen in this illustration photo August 13, 2017. REUTERS/Thomas White/Illustration
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(Reuters) -Toymaker Hasbro Inc (NASDAQ:HAS) beat quarterly revenue estimates on Monday as demand for its "Dungeons & Dragons" tabletop game rose and its film and television production business returned to growth after being largely shut down by the pandemic last year.

Shares of the Rhode Island-based company rose 4% in premarket trading.

Vaccine rollouts and easing restrictions have helped live-action television production get back to business in the second quarter.

Revenue in Hasbro's Entertainment segment, which includes "Peppa Pig" maker Entertainment One and other movie businesses, jumped 47%.

The Monopoly maker's net revenue rose 54% to $1.32 billion in the three months ended June 27, beating analysts' average estimate of $1.16 billion, according to a Refinitiv IBES estimate.

Hasbro reported adjusted net earnings of $145.4 million, or $1.05 per share in the second quarter, compared to $2.7 million, or 2 cents per share, a year earlier.

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