Hasbro Sales Get a Boost from Disney Princess Dolls
Hasbro reported better-than-expected quarterly revenue and profit, helped by strong demand for Disney Princess, Frozen, and Trolls dolls.
The No. 2 U.S. toymaker’s shares rose about 3.4% to $78.75 in premarket trading on Monday.
Net revenue in toys targeted at girls—Hasbro’s second-largest business—jumped 56.7% in the third quarter ended Sept. 25, driven by a rise in shipments of Disney Princess, Frozen, and Dreamworks’ Trolls dolls as well as growth in Baby Alive and Furby toys.
Trolls dolls hit shelves in August, ahead of a Nov. 4 release of the DreamWorks film Trolls.
Net income attributable to Hasbro rose to $257.8 million, or $2.03 per share from $207.6 million, or $1.64 per share, a year earlier. Analysts on average had expected $1.74 per share, according to Thomson Reuters I/B/E/S.
The Pawtucket, Rhode Island-based company’s revenue rose 14.2% to $1.68 billion, handily beating the average analyst estimate of $1.56 billion.