Media Watch: Hasbro’s Profit Exceeds Estimates
From Bloomberg.com:
| Hasbro Inc., the world’s second- largest toymaker, reported first-quarter profit that beat analysts’ estimates as demand for Spider-Man toys and Play-Doh clay spurred the biggest sales gain in almost eight years.
The shares surged 7.7 percent to their highest since 1999. Net income was $32.9 million, or 19 cents a share, exceeding estimates for profit of 1 cent. Revenue jumped 34 percent to $625.3 million, Hasbro said today in a statement. The year-earlier loss was $4.9 million, or 3 cents a share. |
Of more interest to readers of this site might be the following line from the article: “[Sales of g]ames climbed 8 percent, led by a 22 percent increase in Monopoly.” To read the entire article, visit Bloomberg.com.
Posted by W. Eric Martin on Apr 24, 2007 at 12:00 PM in Game News, Media Watch / 948
Comments:
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Okay, I guess I can understand the Spiderman stuff, but a surge in demand for Play-Doh? What, have preschoolers figured out they can smoke it or something? Clearly a DOE investigation is called for. But at least now we know why Eagle went under: they failed to take advantage of the big Play-Doh boom of ‘06! Posted by Larry Levy on Apr 24, 2007 at 03:03 PM | #
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