Hasbro has emerged from the year-ago\u2019s net loss to post a Q1 profit of $58.2 million on revenues of $757.3 million.<\/p>\n
The company\u2019s 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\u2019s revenues were 9 percent lower as gains in entertainment\u2014powered by Peppa Pig<\/em>\u2014and gaming were offset by declines in consumer products.<\/p>\n “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.”<\/p>\n 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<\/em>. 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.<\/p>\n","protected":false},"excerpt":{"rendered":" Hasbro has emerged from the year-ago\u2019s net loss to post a Q1 profit of $58.2 million on revenues of $757.3 million.<\/p>\n","protected":false},"author":290,"featured_media":27407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":0,"footnotes":""},"categories":[21],"tags":[8636,166,256],"class_list":["post-27406","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-top-stories","tag-chris-cocks","tag-hasbro","tag-peppa-pig","pmpro-has-access"],"yoast_head":"\n