Earnings fell 8% to 33 cents per share, down from 36 cents per share in Q2 2014 but ahead of analyst estimates for 29 cents.
Hasbro relies on entertainment to drive much of its sales, and last quarter it benefited from increased demand for toys linked to the recently released “Jurassic World” film and the Marvel and Star Wars franchises.
The narrowing gap between the top two players reflects in their stock prices: Mattel has lost a third of its value in the past year, while Hasbro has surged 57 percent.
MKM Partners’ Eric Handler stated the current launch of “Jurassic World” and the relaunch of the Star Wars franchise later this yr promise document sales for Hasbro.
The popularity of the dinosaur action movie, plus Walt Disney’s (NYSE:DIS) Marvel and “Star Wars“, as well as Nerf products, drove up the boys category by 1%.
“Star Wars: Episode VII – The Force Awakens” hits theaters in December.
Days after Mattel posted a second-quarter loss, rival toy maker Hasbro reported higher second-quarter earnings, as strong sales of Play-Doh and toys tied to movies like Jurassic World overcame a slump in the Furby business. Winning Disney’s license for its popular line of princesses is another boon that will rob Mattel of an estimated more than $300 million in annual sales.
” All of our checks across the channel, more and more dollar share is going towards Hasbro’s collection of brands, and, I think, it helps for them to have some big partnerships in the media industry”. Five analysts surveyed by Zacks expected $781.1 million.
Revenue totaled $797.7 million, which also beat Wall Street forecasts. Excluding the impact of foreign exchange, revenue rose 5 percent.
Hasbro’s overall profit rose 25% to $41.8 million from a year earlier.