Hasbro Inc reported better-than-expected quarterly revenue and profit, helped by strong demand for Disney Princess, Frozen and Trolls dolls. The No. 2 U.S. toymaker’s shares rose about 3.4 percent to $78.75 in premarket trading on Monday.
Net revenue in toys targeted at girls – Hasbro’s second-largest business – jumped 56.7 percent in the third quarter ended Sept. 25, driven by a rise in shipments of Disney Princess, Frozen and Dreamworks’ Trolls dolls as well as growth in Baby Alive and Furby toys, reports Reuters.
A Transformers statue stands on display at the Hasbro booth during the 2014 Comic-Con International Convention in San Diego, California
Trolls dolls hit shelves in August, ahead of a Nov. 4 release of the DreamWorks film “Trolls”. Rival toymaker Mattel Inc lost the lucrative contract for dolls based on Walt Disney Co’s princesses such as Cinderella and Snow White to Hasbro in 2014.
Net income attributable to Hasbro rose to $257.8 million, or $2.03 per share from $207.6 million, or $1.64 per share, a year earlier. Analysts on average had expected $1.74 per share, according to Thomson Reuters I/B/E/S.
The Pawtucket, Rhode Island-based company’s revenue rose 14.2 percent to $1.68 billion, handily beating the average analyst estimate of $1.56 billion.