The Hub, Hasbro’s joint-venture kids network with Discovery Communications that launched in October, didn’t do much for the toymaker’s first-quarter earnings announced today. Although Q1 is usually a slow time for toys as it comes after the holidays, the company missed Wall Street expectations as it reported its net income fell 71%, from $58.9 million a year ago to $17.2 million. Costs related to launching The Hub were cited as part of the dragging-down. The bright side is that Hasbro has a slew of toys tied to summer tentpole movies like Marvel properties Thor and Captain America: The First Avenger and Transformers: Dark of the Moon, which are expected to goose revenue for the full year.
By THE DEADLINE TEAM | Thursday April 14, 2011 @ 12:41pm PDTTags: Captain America: The First Avenger, Hasbro, NBCU Earnings, The Hub, Thor, Transformers: Dark of the Moon
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This article was printed from http://www.deadline.com/2011/04/spendy-launch-of-the-hub-network-hurts-hasbro-earnings/
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