Hasbro beat quarterly revenue estimates on Monday as its film and television production business returned to growth after being largely shut down last year.
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.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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