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‘Transformers One’ Will “Sell A Lot Of Toys,” Hasbro CEO Chris Cocks Says, But Company’s Film And TV Pullback Via Sale Of EOne Helps Drive Solid Q2 Results
While toymaker Hasbro is stepping back from film and TV production, CEO Chris Cocks says the upcoming 'Transformers One' will "sell a lot of toys."
Despite toymaker Hasbro ‘s recent shift away from film and TV production, CEO Chris Cocks touted the upcoming release of Transformers One during the company’s second-quarter earnings call Thursday. Total revenue dropped 18% compared with the year-ago period to $995.3 million, but the downturn was better than the 22% falloff expected by Wall Street analysts. “We still have a bit of turnaround work to do on our core toy business,” which has been buffeted by Covid, supply-chain issues, inflation and other factors, Cocks said.
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