On Monday, Hasbro Inc. reported financial results for the second quarter. Net revenues for the second quarter decreased 4 percent to $797.7 million versus $829.3 million last year. Excluding a negative $71.5 million impact from foreign exchange, net revenues increased 5 percent.
littleBits Electronics Inc. has landed $44.2 million in new funding to further its growth. The additional funding round was led by DFJ Growth, with additional participation from new investors Morgan Stanley Alternative Investment Partners, Grishin Robotics, and Wamda Capital, among others.
Toys “R” Us Inc. today reported financial results for the first quarter ended May 2. Net sales were $2,325 million, a decrease of $154 million compared to the prior year period. Excluding the $131 million negative impact of foreign currency translation, net sales declined $23 million, or .9 percent.
In its financial results for the year ended March 31, VTech Holdings Ltd. reported a decline in revenue and profit. Group revenue for the year ended March 31 declined by 1 percent to $1,879.8 million. The decrease was mainly due to lower revenue in North America, which offset higher revenue in Europe, Asia Pacific, and other regions.
This past Wednesday, Activision Blizzard Inc. reported better-than-expected financial results for the first quarter ended March 31. For the quarter, Activision Blizzard’s GAAP net revenues were $1.28 billion, as compared with $1.11 billion for the first quarter of the prior year. On a non-GAAP basis, the company’s net revenues were $703 million, as compared with $772 million for the first quarter of the previous year. For the first quarter, GAAP net revenues from digital channels were a record $581 million and represented a first-quarter record 45 percent of the company’s total revenues. On a non-GAAP basis, net revenues from digital channels were a first-quarter record $538 million and represented a record 76 percent of total revenues.
On Monday, the Walt Disney Company reported earnings of $2.1 billion for its second fiscal quarter ended March 28. Diluted earnings per share (EPS) increased 14 percent to $1.23 from $1.08 in the prior-year quarter, and excluding certain items affecting comparability, EPS for the quarter increased 11 percent to $1.23 from $1.11 in the prior-year quarter.
Wonder Workshop has raised an additional $6.9 million from new investor WI Harper Group, as well as existing investors Madrona Venture Group, CRV, Maven Ventures, Bright Success Capital, and angels. Wonder Workshop will use the funding to continue to expand into new markets, and to develop manufacturing and strategic business channels. The funding brings the company’s total funding to $15.9 million.
Since its launch late last year, the company’s signature toys, Dash & Dot, have appeared at the White House for the National Hour of Code, been broadly adopted in classrooms around the country, and have provided more than 75,000 hours of fun and entertainment to kids around the world.
Recently, the NPD Group reported U.S. games industry sales for the period of March 1 to April 4. According to Liam Callahan, director, games industry analyst, hardware unit sales decreased by 9 percent, and with average prices down 13 percent across all platforms, dollar sales decreased by 21 percent.