Hasbro makes $1bn in Q1 including $41m from Monopoly Go

• Hasbro generated $1bn in net revenue during its Q1.
• Monopoly Go contributed $41m, while Wizards of the Coast and the digital gaming division made $582m.
• The Wizards and Digital Gaming segment made $298m in operating profit.

Toy company Hasbro generated $1 billion in net revenue during the first three months of its fiscal year, up 13% year-over-year.

Scopely’s Monopoly Go, which leverages Hasbro’s IP, was  highlighted in the segment. The mobile giant contributed $41 million to Hasbro’s revenue total this Q1.

A substantial portifion of Hasbro's sales were generated by the company's Wizards of the Coast and Digital Gaming segment, which grew by 26% to $582m during the quarter.

Operating profit for the segment was $297.7m, up 29% Y/Y.

Games lead, toys trail

Across Hasbro’s business, the company reported a 58% Y/Y rise in operating profit this Q1, reaching $270m. Adjusted profit was up 29%, reaching $287m.

Hasbro recorded a 24% decline in its Entertainment category's revenue, meanwhile Consumer Products was also "flat".

Hasbro noted rising sales of Star Wars toys in anticipation of The Mandalorian and Grogu movie, but still the Consumer Products segment saw an operating loss of $48m. This was said to result from "normal seasonality, incremental tariff expense and challenging licensing".

For the full year, the company expects to grow revenue by up to 5% with an adjusted operating margin of up to 25%.

"The first quarter was a strong start to the year and reflects tailwinds from our Playing to Win strategy," said Hasbro CEO Chris Cocks.

Hasbro CFO and COO Gina Goetter added: "Our first quarter results demonstrate continued top-line momentum and disciplined execution. We remain focused on delivering our annual objectives by driving operating leverage, investing behind our highest-return brands and returning cash to shareholders as we build on this solid start to the year."