Hasbro Reports U.S. and Canada Sales Jumped 16%
Toy and game maker Hasbro (NASDAQ: HAS) reported fourth-quarter and full-year 2020 earnings Monday morning, showing investors the business is recovering from the heavily pandemic-impacted year. Adjusted net income was $1.27 per diluted share in the fourth quarter, beating average analyst estimates of $1.14 according to MarketWatch. Revenue of $1.72 billion in the fourth quarter also beat estimates by $30 million.
Strength came in the U.S. and Canada, where revenue jumped 16%. Revenue in Hasbro's international segment dropped 9%. The company realized mixed results across its brand portfolio. Its gaming products continued growth seen throughout the pandemic, and its partner brands -- which include Lucasfilm's Star Wars and Walt Disney's Frozen -- continued to show weakness. But the company's Entertainment One (eOne) content distribution subsidiary, which was acquired at the start of 2020, reported 10% year-over-year quarterly revenue growth, versus a full-year decline of 21%.
Source Fool.com
