Spider-Man: No Way Home, which has grossed more than $1.1 billion since its release in December, helped toy maker Hasbro smash Wall Street’s fourth-quarter estimates.In the fourth quarter, ending December 26, revenue climbed 17% compared with the year-earlier period to reach $2 billion.
Analysts had been expecting a shade less than $1.9 billion. Earnings of $1.21 per share on an adjusted basis far surpassed estimates of 88 cents.Despite the glowing quarterly report, the company’s stock has shed 1% today to about $93 a share after executives warned of rising costs for shipping and raw materials.
For 2022, they expect the squeeze to keep revenue growth in the low-single digits.In addition to coping with the pandemic and supply-chain issues, the company has been working through a significant management transition.
Brian Goldner, who had been CEO since 2008, spearheading Hasbro’s entertainment push with franchise properties like Transformers and G.I.
Read more on deadline.com
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