Toymaker Hasbro's 1Q Revenue Rises 16.5%

Industries Reuters

Hasbro, the No. 2 U.S. toymaker, reported better-than-expected quarterly profit and revenue, driven by strong demand for Disney Princess dolls and toys based on the Hollywood blockbuster "Star Wars: The Force Awakens."

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Revenue from toys targeted at boys, including toy guns under the "NERF" brand and figurines based on the "Star Wars" and "Jurassic World" films, jumped 24 percent to $336.9 million in the first quarter ended March 27.

Sales of girls' toys rose 41.2 percent, its first rise in six quarters, helped by strong demand for Disney Princess dolls.

Net income attributable to Hasbro rose to $48.8 million, or 38 cents per share, in the quarter from $26.7 million, or 21 cents per share, a year earlier.

Net revenue rose 16.5 percent $831.2 million from $713.5 million.

Analysts on average expected a profit of 24 cents per share and revenue of $777.1 million, according to Thomson Reuters I/B/E/S.

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(Reporting by Subrat Patnaik in Bengaluru; Editing by Anil D'Silva)