- July 26, 2021
- Posted by: Stratford Team
- Category: Business
Toy maker Hasbro saw its second-quarter revenues jump thanks in part to a rebound in film and TV series deliveries from its Entertainment One division.
Overall, entertainment division revenue rose 47 percent to $226.7 million, against a year-earlier $154.1 million, as deliveries of scripted, unscripted and animated TV series recovered following an end to pandemic-era production lockdowns. The eOne division delivered episodes of Cruel Summer and The Rookie and did content deals for kids series like My Little Pony, Peppa Pig and PJ Masks.
Shares in Hasbro jumped $8.82, or 9.5 percent, to $101.23 in trading on Monday morning. Overall, the toy maker shrunk its net loss by 32 percent to $22.9 million or $0.17 per diluted share, driven in part by a loss recorded on assets held for sale related to the eOne Music business.
A charge of $101.8 million related to the loss on eOne Music assets and $7.3 million in related transaction costs were…
