Hasbro beat Wall Street analysts expectations, posting fourth-quarter revenue of $1.72 billion, up 4% from the year-earlier quarter.Adjusting for items, earnings reached $1.27 a share, ahead of analysts’ consensus expectation for $1.14.Gaming as a category posted a 27% rise in revenue to $561.2 million as the company continued to cope with the effects of the coronavirus.
While the pandemic has decimated retail sales, it has also spurred a rise in stay-at-home activities like game playing and streaming, both areas of strength for Hasbro.
Its stable of gaming brands includes Magic: The Gathering and Monopoly. An expanded line of games and toys related to eOne franchises Peppa Pig and PJ Masks is due out later in 2021.Results reflect pro forma
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