July 23, 2019 / 10:46 AM / 5 months ago

RPT-Hasbro sales beat on higher demand for 'Avengers: Endgame' toys

(Repeats to widen distribution)

July 23 (Reuters) - Toymaker Hasbro Inc reported a better-than-expected quarterly revenue on Tuesday, helped by higher demand for action toys following the blockbuster success of “Avengers: Endgame” and “Spider-Man: Far From Home”.

Net revenue rose 8.9% to $984.5 million and beat the average analyst estimate of $956.8 million, according to IBES data from Refinitiv.

Net income fell to $13.4 million, or 11 cents per share, in the second quarter ended June 30, from $60.3 million, or 48 cents per share, a year earlier.

Reporting by Soundarya J in Bengaluru; Editing by Arun Koyyur

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