Hasbro Soars After Profit Tops Estimates on Frozen 2 Toys

Entertainment, licensing and digital revenue rose 22% in year
Coronavirus has affected company, though impact ‘small’ so far

Walt Disney Co. Frozen II dolls hang on display at a store in Paramus, New Jersey. — Walt Disney Co. Frozen II dolls hang on display at a store in Paramus, New Jersey.
Photographer: Mark Kauzlarich/Bloomberg

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By Kelly Gilblom

February 11, 2020 at 11:47 AM UTC

Updated on

February 11, 2020 at 2:42 PM UTC

This article is for subscribers only.

Hasbro Inc. posted earnings that topped analysts’ estimates as toys based on Frozen 2 and Star Wars helped it overcome the fallout from President Donald Trump’s trade war with China. The shares jumped the most in almost seven months.

Excluding some items, profit of $1.24 a share far outpaced the 88-cent average projection. Revenue rose 3% to $1.43 billion, the Pawtucket, Rhode Island-based toymaker said Tuesday. That was shy of estimates for $1.44 billion.