Hasbro reported a surprising quarterly profit on Tuesday, when the box office success of the Transformers movie production "Bumblebee" exaggerated the sale of action toys, raising shares of the company for the best day for more than 20 years.
Michael Bay's action transformer franchise "Bee" was the first movie to expand the partnership between Hasbro and Paramount Pictures, earning $ 470 million since its launch late last year.
Families looking at bees during Christmas holidays meant their toys were hot in early 2019, and sales could rise again due to blues, said James Zahn, senior editor of The Toy Book, a trade magazine. Said. .
Due to strong sales of Transformers and other long-running brands including Play-Doh and Monopoly, Hasbro's first quarter sales surged for the first time since the bankruptcy of Toys "R" Us, a key customer in 2017.
"[Bumblebee] Brian Goldner, Chief Executive Officer of Brian Goldner, said, "We successfully introduced transformers to the new generation of children and met key fans around the world.
Hasbro shares rose 15.5% to $ 101.59 in the initial session, while Mattel Inc rose 4%.
The company also pledged that big Disney movies, including "Avengers: End Game" this weekend, will line up and make more money for the rest of the year.
The Avengers toys sold during the Easter weekend, and this year's new "Star Wars", "Frozen" and "Spider-Man" movies are expected to drive revenue growth.
Hasbro focuses on establishing a popular entertainment franchise agreement. Children tend to prefer video games and toys based on G. I's social media trend. Joe action figures and Barbie dolls.
The company also poured more money into virtual games by converting the existing "Magic: The Gathering" card game into a new revenue-generating e-sports program.
Based on the video game "Fortnite" and the HBO show "Game of Thrones", the new version of the company's popular monopoly board game helped revive interest in the family game night.
"Hasbro is attracting crowds who have not traditionally purchased monopoly games.
The company posted gains of 21 cents a share, exceeding consensus market expectations by 11 cents.
The result was a big recovery from the loss of $ 112.5 million a year in the year when the company ruined its $ 61 million cost due to the bankruptcy of Toys "R" Us.