A strong return of its film and TV business, especially compared with a bleak 2020, helped Hasbro’s second quarter results easily beat Wall Street forecasts.Revenue surged 54% to $1.32 billion, while adjusted earnings per share reached $1.05, compared with two cents in the year-ago quarter.
When factoring in the impact of selling off subsidiary eOne’s music business, the company booked a net loss of 17 cents a share.
Overall, the results attest to the company’s rebound from the Covid-19 struggles that defined 2020.The entertainment division, which has recently launched series like Cruel Summer and The Rookie as well as new episodes of kids TV mainstay Peppa Pig, saw revenue rise 47% to $197 million.
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