Hasbro expects revenue growth in 2011
When the world’s second-largest toyco Hasbro issues its year-end earnings report on February 6, the company expects to mark a 7% increase in revenue from the US$4 billion generated in 2010, and anticipates marking revenues of US$1.33 billion in Q4, compared to the US$1.28 billion earned in the same quarter last year.
The company, which has expanded into the entertainment business via film franchises like Transformers and broadcasting after launching Discovery/Hasbro kidnet The Hub in October 2010, also expects to report between 2% and 4% growth in earnings per share for 2011 over the US$2.74 per share it recorded in 2010.
Wall Street analysts on average have projected earnings of US$2.87 per share on revenue of US$4.4 billion.
Despite the expected growth, Hasbro’s CEO Brian Goldner said in a statement that the Q4 figures wouldn’t meet analyst expectations and the underperformance was due to weak demand for product in the US and Canada post-Thanksgiving.