WATCH: Hasbro trounced analysts' estimates for quarterly revenue and profit, bolstered by a recovery in the toymaker's television production business and price increases to counter a hit from supply chain issues
trounced analysts' estimates for quarterly revenue and profit on Monday, bolstered by demand for toys based on the latest Spider-Man movie and a rebound in its television production business.
The December release of "Spider-Man: No Way Home", which has grossed more than $1.1 billion worldwide, came after Hasbro had struggled with a dearth of major Marvel blockbusters.Toys based on the web slinger powered a 13% increase in the Partner Brands segment, interim Chief Executive Officer Richard Stoddart told analysts on a call.
The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, U.S., November 16, 2021. REUTERS/Andrew Kelly Hasbro's fourth-quarter net revenue rose 17% to $2.01 billion, beating analysts' estimates of $1.87 billion. The jump came despite the company falling short on its target for holiday season inventory due to global supply-chain disruptions.
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