Hasbro Reports Q2 Profit

Hasbro swung to a profit of $138.5 million in the second quarter on revenues that were down 18 percent to $995.3 million, largely from its sale of the Entertainment One assets.

“We delivered a solid performance in games and digital licensing and substantial margin improvement this quarter,” said CEO Chris Cocks. “Hasbro is emerging as a more profitable, agile and operationally excellent company delighting fans of all ages through the magic of play.”

Excluding the eOne divesture, revenues were down 6 percent as gaming helped to mitigate declines in consumer products and entertainment. Consumer products revenues were down 20 percent to $524.4 million, while entertainment, excluding the eOne sale, was down 30 percent to $18.8 million. Wizards of the Coast and digital gaming saw revenues rise by 20 percent to $452 million.