Hasbro is soaring 14.9% at $94.94 a share after the company reported better-than-expected quarterly revenue and profit, helped by strong demand for its Disney Princess and “Frozen” dolls during the holiday season in the US.
Revenue from toys in the girls’ category jumped 52%, as demand for dolls based on Walt Disney Co’s “Cinderella” and “Frozen” rose significantly in the fourth quarter ended Dec. 25.
The company also benefited from strong demand for DreamWorks’ “Trolls” dolls. The “Trolls” film was released in the United States last November.
Hasbro won the lucrative contract for dolls based on Disney’s princesses such as Cinderella and Snow White from Mattel in 2014.
Here are the key numbers:
- Revenue +11.2% to $1.63 billion, beating analysts’ average estimate of $1.50 billion, according to Thomson Reuters
- Net income rose to $192.73 million, or $1.52 per share, in the quarter, from $175.76 million, or $1.39 per share, a year earlier.
- Excluding certain items, the company earned $1.64 per share. Analysts on average had expected $1.12.
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