NEWS

Hasbro reports first quarter revenue growth

Published on: 25th April 2017

Revenue grew 2% to $849.7m.

Hasbro-480First quarter US and Canada revenue increased 2% to $451.6 m, with revenue growth in Hasbro Gaming and Emerging Brands offsetting a decline in Franchise Brands and Partner Brands.

International revenue was flat at $345.3m. Revenue growth in Franchise Brands, Hasbro Gaming and Emerging Brands was offset by a decline in Partner Brands. On a regional basis, Europe revenues declined 4%, Latin America increased 16% and Asia Pacific declined 1%. Emerging markets revenues increased by 20%.

Entertainment and Licensing segment revenues increased 24% to $52.7m. Digital gaming drove the quarterly revenue increase, including higher revenues at Backflip Studios.

Hasbro’s total gaming category, including all gaming revenue, most notably Magic: The Gathering and Monopoly, totalled $253.3 m, up 10%. Franchise Brand revenue increased 2% to $423.6 m, driven by revenue growth in Nerf, Transformers and Monopoly. Partner Brand revenues declined 18% to $213m; revenue growth from Beyblade and Dreamworks’ Trolls was more than offset by expected declines in Star Wars and Marvel.

Hasbro Gaming posted 43% revenue growth to $142.9 m. The strong revenue increase was led by several new games, including Speak Out, Toilet Trouble and Fantastic Gymnastics, digital gaming, and several other gaming brands, including Dungeons and Dragons, Bop-It and Pie-Face. Hasbro’s total gaming category grew 10% to $253.3 m. Emerging Brands revenue grew 25% to $70.2 m, with revenue increases from Baby Alive and Furreal Friends products cited as the primary contributors to growth.

Brian Goldner, Hasbro’s chairman and chief executive officer, commented: “Our first quarter results are in line with our previously communicated expectations and we are well positioned to execute against 2017’s rich content slate and diverse new initiatives. Revenue grew in the quarter and we drove strong consumer takeaway at retail, both compared to a robust first quarter last year and with a shift of Easter into this year’s second quarter. Over the coming quarters, we are supporting significant new initiatives including major theatrical films for both Franchise and Partner Brands.”

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