Hasbro's Q1 Earnings Report Reveals Why the Stock Is a Bargain
There was a lot to like in Hasbro's (NASDAQ: HAS) fiscal first-quarter earnings report. Sales of toys and games are making a big comeback as the company posted double-digit growth over the year-ago quarter.
As expected, revenue from the entertainment segment fell 34% year over year, but management expects this business to return to growth in 2021 with major new releases in production. The release of G.I. Joe Snake Eyes is scheduled for July 23, and more than 200 other projects are in the pipeline.
Most importantly, there may be more value in Hasbro's 2019 acquisition of eOne that investors are still underestimating. Hasbro recently announced the sale of eOne's music business. The value of the deal suggests management bought eOne for less than what it's worth.
Source Fool.com
