Hasbro enjoys revenue increase with growth in entertainment and licensing division

Global entertainment company, Hasbro has seen an increase in first quarter revenues of two per cent, prompting a surge in share value.

The firm, which owns big name children’s brands such as Play-Doh and Monopoly, has seen growth in the US and Canada as well as within its entertainment and licensing division.

The company has cited strong demand for Monopoly, Nerf and Transformers products.

However, despite the growth in the US and Canada, international sales were flat, with a four per cent decline in Europe.

Chief executive Brian Goldner said that the results were in line with expectations and position the firm for future growth.

Net earnings spike 41 per cent to $68.6m while total revenue in the first quarter was $850m, from $831 in the same period in 2016.

Executives at Hasbro have said that the decline in operating profit was due to higher expenses, a shift in product mix and falling revenue from the Magic: The Gathering products.

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