Hasbro, Mattel shares rise as toymakers announce multiyear licensing agreement, increased IP focus
Publishing timestamp: 2023-04-27 14:52:25
Summary
Hasbro and Mattel, two rival toymakers, have announced a multiyear licensing agreement to launch co-branded toys and games using each other's popular brands. Hasbro reported better-than-expected revenue and a spike in stock prices, while Mattel's revenue beat expectations but fell short on the bottom line. Both companies are optimistic about the future of their intellectual property and are gearing up for major movie launches this summer.
Sentiment: MIXED
Tickers: PARA, HAS, MAT, FNKO, WBD,
Keywords: entertainment, mattel inc, warner bros discovery inc, paramount global, funko inc, hasbro inc, retail industry, earnings, business news,
Source: https://www.cnbc.com/2023/04/27/hasbro-mattel-shares-rise-after-earnings.html