Hasbro Delivers Q2 Revenue Gains

Second-quarter revenues at Hasbro were up 54 percent to $1.32 billion.

The company’s entertainment segment reported revenues of $226.7 million in the quarter, a 47 percent gain, with growth in the TV and film, family brands and music divisions.

Consumer products revenues were up 33 percent to $689.2 million. Hasbro also reported huge gains in its Wizards of the Coast and digital gaming segment, where revenues more than doubled to $406.3 million.

Net loss for the period widened to $22.9 million, driven by the loss on assets held for sale related to the eOne Music business.

“Hasbro delivered an excellent second quarter,” said Brian Goldner, Hasbro’s chairman and CEO. “Wizards continued to generate outstanding results behind a compelling analog and digital release schedule for Magic: The Gathering. 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. The Hasbro team is performing at a high level and supercharging our Brand Blueprint to drive demand for our brands and content slate as we track to our target of double-digit revenue growth for the full year and position us for profitable growth, not just this year but also in future years.”