While Hasbro’s Toys Were Stuck In Transit, Entertainment Properties Saved The Day

While Hasbro’s Toys Were Stuck In Transit, Entertainment Properties Saved The Day

The Hasbro toy company's Media Studios in Burbank, California. The toy manufacturer's entertainment ... [+] properties were key revenue drivers during the third quarter. (Photo by AaronP/Bauer-Griffin/GC Images) The snarled supply chain cost toymaker Hasbro $100 million in unfilled orders during the third quarter, but the company still was able to increase revenues by 11%, thanks to the strength of its entertainment division. The third-quarter results are a testament to the wisdom of late CEO Brian Goldner's diversification strategy. Goldner, who died Oct. 11 after a long battle with cancer, outlined a blueprint for the company designed to transform it from a toy manufacturer to a fully-integrated entertainment, gaming, and consumer products company. The third quarter results, reported today, with entertainment revenues up 76%, provided the best indication yet that Goldner engineered a winning strategy for the company. "This is the beginning of the blueprint proving itself out in the world," said Richard Stoddart, the Hasbro board member who is serving as interim CEO. Investors apparently agree. The stock jumped more than 5% in pre-market trading after the earnings release, and remained up more than 5% during the first hour after the market opened. Hasbro beat analysts estimates for earnings,