New York: Hasbro Inc, the second-largest US toymaker, reported a 43 per cent jump in quarterly profit, helped by higher demand for its Transformers, Marvel and Stars Wars action figures in emerging markets such as Latin America and the Asia Pacific region.
Hasbro owns the popular ‘Transformers’ brand and holds toy licences for Marvel Comics characters such as Spider-Man and Iron Man, which have had phenomenal box office success over the past few years.
Sales of boys’ toys, Hasbro’s largest business, rose 22 per cent to $478.5 million (Dh1.7 billion), helped by higher sales of Nerf guns.
International segment revenue rose 11 per cent to $649.3 million, helped by 29 per cent growth in sales from emerging markets, the company said in a statement.
Hasbro’s US and Canada sales, which account for more than half of total revenue, rose 4 per cent to $764.3 million.
Larger rival Mattel Inc reported its fourth straight fall in quarterly sales last week as demand for its billion-dollar brands, Barbie and Fisher-Price, slipped further.
Net income attributable to Hasbro rose to $180.5 million, or $1.40 per share, in third quarter ended September 28, from $126.6 million, or 96 cents per share, a year earlier. Excluding items, Hasbro earned $1.46 per share.
Total revenue rose 7.3 per cent to $1.47 billion.
Analysts on average had expected a profit of $1.45 per share on revenue of $1.47 billion, according to Thomson Reuters.
Hasbro’s shares were little changed in premarket trading on Monday. The stock closed at $53.85 on the Nasdaq on Friday.
