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Hasbro Fights Through Film And TV Slump As Toy And Game Strength Helps Q1 Profit Clear Wall Street’s Bar

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Hasbro’s thriving analog and digital games business helped its first-quarter profit beat Wall Street expectations, but Covid-19-related struggles in film and TV resulted in only a 1% uptick in revenue.Revenue came in at $1.15 billion, up 1% from the year-ago quarter and just shy of analysts’ consensus forecast.

Earnings per share of 84 cents soared above predictions for 65 cents.The division focused on franchise brands like Magic: The Gathering, Play-Doh and Nerf posted a 24% jump in revenue to $492 million.

TV and film revenue dropped 34% to $194 million, a decline the company blamed on pandemic-related theater closures and timing of deliveries for later in the year.During a conference call with analysts, CEO Brian Goldner painted a bright

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