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Hasbro quarterly revenue rises 2.2 percent

  • Hasbro reported a 2.2 percent rise in quarterly revenue.
  • Revenue rose on higher demand for toys based on franchises such as "Nerf" and "Transformers."
Transformers
Rhiannon Teeter | CNBC
Transformers

Hasbro, the no. 2 U.S. toymaker, reported a better-than-expected quarterly profit, partly helped by demand for digital gaming which more than doubled the profit from its entertainment and licensing business. Shares of Hasbro closed up almost 6 percent on Monday.

Hasbro's sales have been on the rise, especially after the toymaker won a lucrative contract from Mattel for dolls based on Walt Disney's princesses such as Cinderella and Frozen's Elsa in 2014.

Hasbro CEO Brian Goldner will be interviewed on "Mad Money" at 6 p.m. ET Monday night.

The company said its revenue rose 2.2 percent to $849.7 million in the first quarter ended April 2, helped by higher demand for toys based on franchises such as "Nerf" and "Transformers."

Revenue for the company's franchise brands, which also include Monopoly and Play-Doh, rose 1.7 percent to $423.6 million. The business accounted for about half of Hasbro's total revenue.

Net income attributable to Hasbro rose to $68.6 million, or 54 cents per share, from $48.8 million, or 38 cents per share, a year earlier.

Hasbro earned 43 cents per share, excluding an 11 cent benefit due to the adoption of a new accounting standard.

Analysts on average had expected a profit of 38 cents per share and revenue of $822.1 million, according to Thomson Reuters.