Hasbro posts surprise rise in quarterly revenue

April 23, 2019

(Reuters) – Toymaker Hasbro Inc reported a surprise rise in quarterly revenue on Tuesday as it sold more of its Transformers toys and “Magic:The Gathering” collectible card game.

The company reported net earnings of $26.7 million, or 21 cents per share, in the first quarter ended March 31, compared with a loss of $112.5 million, or 90 cents per share, a year earlier.

Net revenues rose to 2.3 percent to $732.5 million, while analysts were expecting $661.3 million, according to IBES data from Refinitiv.

(Reporting by Uday Sampath in Bengaluru; Editing by Saumyadeb Chakrabarty)

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