Hasbro Posts Q1 Profit


Hasbro has emerged from the year-ago’s net loss to post a Q1 profit of $58.2 million on revenues of $757.3 million.

The company’s revenues were down 24 percent in the quarter, largely due to the sale of the eOne television and film business to Lionsgate last year. Excluding that divesture, the company’s revenues were 9 percent lower as gains in entertainment—powered by Peppa Pig—and gaming were offset by declines in consumer products.

“The first quarter was a good start to the year for Hasbro; we are continuing to see the results of our transformation work,” said Chris Cocks, Hasbro’s CEO. “Performance from our licensing portfolio shows the strength of our brands and we continue to fuel innovation in games and toys as we expand our reach across play patterns to fans of all ages.”

The entertainment segment saw revenues drop with the sale of the eOne business, but absent that impact, the division saw revenues rise by 65 percent to $28 million, powered by the success of Peppa Pig. Revenues from digital gaming and Wizards of the Coast grew by 7 percent to $316.3 million. Consumer products revenues were down 21 percent to $413 million.