PAWTUCKET – Hasbro Inc. posted profit of $67.7 million in the second quarter of 2017, a 37 percent increase year over year. The toy, board game and entertainment production company generated $972.5 million in revenue for the quarter, a 10.6 percent rise from the second quarter of 2016. Earnings per diluted shares were 53 cents, compared with 41 cents for the same year-ago period.
Franchise brand revenue increased 20.7 percent year over year to $545.7 million, which the company primarily attributed to sales of Transformers, Magic: The Gathering, Nerf and Monopoly.
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The company also reported increased revenue from the Hasbro Gaming portfolio, which rose 5.9 percent year over year to $133.9 million attributing these gains to Dungeons & Dragons and Operation sales (the company counted Magic: The Gathering and Monopoly revenue in the Franchise Brand division).
Revenue for the company’s emerging brands portfolio declined 14.1 percent year over year to $62.9 million due to declining sales of Easy-Bake Oven products, Playskool toys and Super Soakers.
“The Hasbro team executed another very strong quarter across the Brand Blueprint. Story-led brands and innovative brand initiatives drove double-digit revenue growth and an increase in operating profit margin,” said Brian Goldner, Hasbro’s chairman and CEO. “We entered the important second half of the year with strong consumer momentum, a robust and diverse entertainment slate and compelling new brand initiatives.”
Through the first six months of the year, the company reported a 41.4 percent year-over-year profit increase to $136.3 million, on a 6.6 percent increase in net revenue to $1.8 billion.
Chris Bergenheim is the PBN web editor.
