Spiderman Swings Hasbro Earnings Past Analyst Estimates
In February 2022, during its fourth quarter earnings call, Hasbro Inc. (Hasbro) recorded revenue and profit figures of $6.4 billion and $763.3 million, respectively, beating out earnings per share estimates. Richard Stoddart, Hasbro’s Chief Executive Officer, attributed a chunk of the success to the release of Marvel’s latest superhero film, Spider-Man: No Way Home, which generated over $1.1 billion in gross sales worldwide. According to Stoddart, its Partners Brands segment exhibited a 13.0% increase due to an uptick in Spiderman toy consumption. This increase has offset declines the company faced from underperforming movies such as "Eternals."
COVID|Balance Sheet|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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