Hasbro Delivers Strong Quarter on TV Production Rebound, Price Increases

The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, US, November 16, 2021. (Reuters)
The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, US, November 16, 2021. (Reuters)
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Hasbro Delivers Strong Quarter on TV Production Rebound, Price Increases

The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, US, November 16, 2021. (Reuters)
The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, US, November 16, 2021. (Reuters)

Hasbro Inc trounced analysts' estimates for quarterly revenue and profit on Monday, bolstered by a recovery in the toymaker's television production business and price increases to counter a hit from supply chain issues.

The Monopoly board game maker's shares rose 3.3% to $97 in premarket trading.

Revenue from Hasbro's entertainment business jumped 54% in the fourth quarter ended Dec. 26, as the company delivered new episodes of the Showtime series "Yellowjackets" and released a new "Clifford the Big Red Dog" movie.

In contrast, year-earlier results were knocked by production shutdowns brought on by the pandemic.

The return of Marvel superhero movies last year also propped up the company's consumer products unit, with revenue up 9% on demand for toys based on characters from the films.

Hasbro, like rival Mattel Inc, has been looking to generate more revenue from TV shows, movies and video games as it focuses on becoming a broader entertainment company rather than just a toymaker.

The company's total net revenue rose 17% to $2.01 billion in the fourth quarter, beating analysts' estimates of $1.87 billion, according to Refinitiv IBES estimates.

On an adjusted basis, the company earned $1.21 per share, topping estimates of 88 cents, as price increases last year helped offset a surge in raw material and transportation costs.

Hasbro, which last month named the head of its digital gaming division, Chris Cocks, as its next chief executive officer, said it expects fiscal 2022 revenue to rise at a low single-digit rate. Analysts on average had estimated a 3.9% increase.



Conan O’Brien Decries ‘Bullies’ While Receiving Kennedy Center’s Mark Twain Prize 

Comedian Conan O'Brien waves to the crowd at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP)
Comedian Conan O'Brien waves to the crowd at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP)
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Conan O’Brien Decries ‘Bullies’ While Receiving Kennedy Center’s Mark Twain Prize 

Comedian Conan O'Brien waves to the crowd at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP)
Comedian Conan O'Brien waves to the crowd at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP)

Conan O'Brien accepted the Mark Twain Prize for American Humor on Sunday with a not-so-subtle broadside against President Donald Trump, whose takeover of the Kennedy Center, which awarded the prize, has shaken the arts world.

A host of comedians including David Letterman, Adam Sandler, Sarah Silverman and Stephen Colbert celebrated O'Brien for comic greatness while ribbing the Trump administration and putting a spotlight on the renowned arts facility that is now overseen by Trump allies.

But it was O'Brien, the longtime late-night television host and comedy writer, who aimed his comments most directly at the Republican president without using his name.

"Twain hated bullies," O'Brien said. "He punched up, not down. And he deeply, deeply empathized with the weak."

O'Brien described the award's namesake as "allergic to hypocrisy" and suspicious of populism and imperialism. "He loved America but knew it was deeply flawed," O'Brien said.

Trump, who came into office in January, has spent the last two months implementing much of the populist agenda that helped him get elected last year while advocating for US annexation of Canada and Greenland, firing federal workers, and deporting migrants who were in the United States illegally.

The show was the first signature event at the Kennedy Center since Trump announced he would become chairman of the institution, pushing out billionaire philanthropist David Rubenstein.

Trump dismissed board members appointed by former President Joe Biden and installed officials loyal to him. He handed leadership reins for the facility to Richard Grenell, a close ally and former ambassador to Germany who is serving as envoy for special missions in Trump's current administration.

The new board, which includes White House chief of staff Susie Wiles and Usha Vance, wife of Vice President JD Vance, fired its former president, Deborah Rutter.

Trump visited the center last week and declared it in "tremendous disrepair." O'Brien thanked Rubenstein and Rutter in his remarks, drawing loud applause from the audience.

"When he accepted the Mark Twain Prize, this was a very different place," Colbert said from the Kennedy Center stage. "Today they announced two board members: Bashar al-Assad and Skeletor," Colbert quipped, referring to the former president of Syria and a cartoon villain.

COMEDY GIANT

Other comedians joked that this would be the last Mark Twain Prize awarded by the Center. John Mulaney cracked that the facility, which is seen as a memorial to slain former President John F. Kennedy, would be renamed after Roy Cohn, a political fixer known for his role in Senator Joseph McCarthy's anti-communist scare campaigns of the 1950s, and a lawyer for Trump in his early years in business.

Along with the annual Kennedy Center Honors in December, the Mark Twain Prize is one of the premier events at the renowned arts institution.

Trump did not attend the event on Sunday and did not attend any of the Honors performances during his first term.

O'Brien hosted the Oscars earlier this month and is slated to come back in the emcee role next year.

He was the host of "Late Night with Conan O'Brien" and "The Tonight Show with Conan O'Brien" on NBC and "Conan" on TBS. He is a former writer for "Saturday Night Live."

"You are a genius, my friend," comedian and actor Will Ferrell said from the stage.

"You're an absolute giant in the world of comedy," said actor and comedian Tracy Morgan.

O'Brien told reporters before the show that he wanted to go through with the event to support Kennedy Center workers. "Our country has been through many different sea changes, and my thought is I will be here specifically to honor Mark Twain and the people that this award stands for," he said.

Previous winners of the Mark Twain Prize include Kevin Hart, Sandler, Jon Stewart, Julia Louis-Dreyfus and Carol Burnett. Sunday's show will be available for viewing on Netflix on May 4.