Thanks to the surging demand for its “Dungeons & Dragons” tabletop game as well as the recovery of its film and television division following pandemic shutdowns, Hasbro Inc posted a 54% jump in quarterly revenue on Monday. Following the announcement, Hasbro shares rose by 2.3% during pre-market trading on Monday.
A large portion of Hasbro’s recent sales comes from Marvel superhero toys based on popular movies such as “Black Widow” as well as “The Falcon and the Winter Soldier” Disney+ series. Demand for board games and role-playing also increased, particularly as parents looked for ways to keep their children preoccupied during coronavirus lockdowns.
Revenue from the company’s consumer products segments, which includes top-selling toy brands such as Nerf and Play-Doh, rose by 33% to $689.2 million. Overall net revenue for the three-month period ended June 27 skyrocketed by 54% to $1.32 billion.
Hasbro’s TV production unit also proved to be a major source of income, with new dramas such as “Cruel Summer” and “The Rookie” being rolled out. Children’s TV programs My Little Pony” and “Peppa Pig” are also due to air new episodes.
Ultimately, the toymaker was able to stick to its planned revenue growth in the double digits.
