Hasbro Q3 Revenues Slip 4 Percent

Third-quarter revenues at Hasbro were down 4 percent to $1.78 billion, with net earnings rising slightly to $220.9 million.

“Hasbro’s third quarter performance was the result of great work from our global team and continued growing consumer demand for Hasbro brands in most markets,” said Brian Goldner, Hasbro’s chairman and CEO. “Our broad, innovative product line, including leadership in gaming, excellence in global ecomm and compelling marketing campaigns drove meaningfully better performance in the third quarter. Building off this quarter’s growth in toys, games and digital we are positioned to deliver a good holiday season. Live-action entertainment production is returning, and we are set to improve deliveries in the fourth quarter with some moving into 2021. While COVID-19 remains a factor in our global operations, consumers remain engaged in activities that create joy and personal connections and we are working purposefully to deliver them the world’s best play and entertainment experiences, while remaining focused on the safety and well-being of our global teams and communities.”

At eOne, revenues dropped by 32 percent to $193.5 million, primarily due to lower TV and film revenues amid the shutdown of theaters and live-action production. Within Family Brands, revenues declined on lower consumer licensee revenues and lower advertising revenue from the YouTube platform.

Entertainment, licensing and digital revenues at Hasbro fell by 23 percent to $89 million, with an operating profit that rose by 33 percent to $32.8 million.

U.S. and Canadian revenues rose by 9 percent to $977.1 million, while international revenues were down 8 percent to $517 million.