Toymaker Hasbro Inc. (NASDAQ: HAS) reached their highest sales in 1-1/2 years after shares dropped 5% at $110.25 and increased stock to about 50% this year due to the demand for their Transformers and Nerf toys in the United States. Most of the company’s revenue seems to result from growth in only one segment, which was franchise brands rather than across the entire business. Net revenues for the second quarter 2017 increased 11% to $972.5 million versus $878.9 million in 2016. Net revenues for the second quarter 2017 increased 11% to $972.5 million versus $878.9 million in 2016.
Franchise brands such as Transformers and Nerf increased sales to 21% launching products in June and July. Hasbro’s games segment also accounts for a 5.9% increase in net revenue. The company earned 53 cents per share exceeding analysts’ expectations of 46 cents per share. The net income totaled to about $67.72 million compared to last year’s total of $52.11 million.
“The Hasbro team executed another very strong quarter across the Brand Blueprint. Story-led brands and innovative brand initiatives drove double-digit revenue growth and an increase in operating profit margin,” said Brian Goldner, Hasbro’s chairman and chief executive officer. “Franchise Brand, Hasbro Gaming and Partner Brand revenues grew year-over-year, and revenue increased across all geographic regions. We entered the important second half of the year with strong consumer momentum, a robust and diverse entertainment slate and compelling new brand initiatives.”