Brian Goldner Chris Cocks reports Hasbro CEO No Way Home Company Brian Goldner Chris Cocks

‘Spider-Man: No Way Home’ Toy Sales Help Hasbro Smash Q4 Estimates; Company Considers Options For Discovery Family Stake

Reading now: 862
deadline.com

Spider-Man: No Way Home, which has grossed more than $1.1 billion since its release in December, helped toy maker Hasbro smash Wall Street’s fourth-quarter estimates.In the fourth quarter, ending December 26, revenue climbed 17% compared with the year-earlier period to reach $2 billion.

Analysts had been expecting a shade less than $1.9 billion. Earnings of $1.21 per share on an adjusted basis far surpassed estimates of 88 cents.Despite the glowing quarterly report, the company’s stock has shed 1% today to about $93 a share after executives warned of rising costs for shipping and raw materials.

For 2022, they expect the squeeze to keep revenue growth in the low-single digits.In addition to coping with the pandemic and supply-chain issues, the company has been working through a significant management transition.

Brian Goldner, who had been CEO since 2008, spearheading Hasbro’s entertainment push with franchise properties like Transformers and G.I.

Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA