Bumblebee Movie Boost Transforms Hasbro First Quarter; Shares Surge

Bumblebee Movie Boost Transforms Hasbro First Quarter; Shares Surge
A photocall in support of Paramount Pictures' film 'Bumblebee' at Tower Bridge, Potters Field Park in London, United Kingdom on Dec. 5, 2018. John Phillips/Getty Images for Paramount Pictures
Reuters
Updated:

Hasbro Inc. reported a surprise quarterly profit on April 23 as the box-office success of Transformers movie spin-off “Bumblebee” charged sales of its action toys, putting the company’s shares on track for their best day in more than two decades.

A departure from director Michael Bay’s action-heavy “Transformers” franchise, “Bumblebee” was the first film to come out of an expanded partnership between Hasbro and Paramount Pictures and made $470 million worldwide after its release late last year.