TV shows, price hikes help Hasbro beat estimates
Hasbro easily beat analyst estimates in the fourth quarter.
Total revenue was up 17% to just over $2 billion in the fourth quarter - beating estimates of $1.87 billion.
Price increases to help cope with supply chain problems helped the toymaker.
Another factor was a recovery in its television production business.
The Monopoly maker delivered new episodes of the Showtime series 'Yellowjackets' and released a new 'Clifford the Big Red Dog' movie.
It saw revenue in its entertainment business jump 54%.
Hasbro has focused on trying to generate more money from TV shows, movies and video games.
Like rival Mattel, it wants to be a broader entertainment company rather than just a toymaker.
Now the latest numbers are a big jump on a year before, when the firm was hit by production shutdowns as a result of the global health crisis.
The return of Marvel superhero movies last year was another key source of earnings for the consumer products unit.
Revenue there was up 9% in Q4 on demand for toys based on film characters.
Looking ahead, the company expects 2022 revenue to rise at a low single-digit rate.
