Board games the standout star in Hasbro’s 4th quarter
The critical holiday shopping season, coupled with quarantining amid the ongoing coronavirus pandemic, pushed board game sales up 21% at Hasbro in the fourth quarter.
The toy company’s Monopoly and Magic: The Gathering card game were strong performers in the quarter, along with Dungeons and Dragons.
Total revenue climbed 4% to $1.72 billion, slightly better than the $1.7 billion that analysts polled by Zacks Investment Research was calling for.
Hasbro earned $105.2 million, or 76 cents per share, for the period ended Dec. 27. That compares with $95.5 million, or 69 cents per share, a year ago.
Removing one-time gains and costs, earnings were $1.27 per share. That handily topped the $1.14 per share Wall Street expected.
For the year, the Pawtucket, Rhode Island-based company reported a profit of $222.5 million, or $1.62 per share. Revenue totaled $5.47 billion.
Hasbro shares rose 3.3% before the market open on Monday.
Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HAS at https://www.zacks.com/ap/HAS