Entertainment & licensing revenues up 9% in quarter thanks to big hitting franchises.
Hasbro received a boost from big hitting franchises Star Wars, Frozen and Disney Princess in its second quarter.
The company’s Entertainment & Licensing segment net revenues increased nine per cent to $51.9 million, compared to $47.6 million in 2015.
The growth came from both consumer products and digital gaming.
Operating profit in the segment increased 86 per cent to $13.8 million, compared to $7.4 million in 2015.
Brian Goldner, chairman, president and ceo, said: “Our initiatives for the second half of the year feature innovative offerings for Hasbro Franchise Brands and Partner Brands, including newly announced products such as Furby Connect and Speak Out, and support for upcoming major feature films, Lucasfilm’s Rogue One: A Star Wars Story and DreamWorks’ Trolls.”
The addition of Yo-Kai Watch to the portfolio is also expected to boost the company going forward, particularly in the boys category.
Overall, Hasbro saw net revenues for the second quarter grow ten per cent to $878.9 million (2015: $797.7 million), while net earnings were up 25 per cent to $52.1 million (2015: $41.8 million).
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