Marvel, 'Transformers' Toys Boost Hasbro Earnings
The boys category "was the key driver in the quarter," says one analyst
Hasbro on Monday reported improved third-quarter financials driven by strong sales of Marvel, Transformers and Star Wars toys.
The toy giant said boys category revenue increased 22 percent to $478.5 million in the third quarter "behind growth in Nerf, Transformers, Marvel and Star Wars products."
Transformers toy sales were helped by the theatrical release of Transformers: Age of Extinction earlier this year. Marvel toys included product related to the summer releases of Captain America: The Winter Soldier and Guardians of the Galaxy.
Total company revenue for the quarter rose 7 percent to $1.47 billion. Adjusted net earnings increased 9 percent to $187.8 million, said Hasbro, led by CEO Brian Goldner.
"Boys, fueled by Transformers and Marvel products, was the key driver in the quarter," said MKM Partners analyst Eric Handler.