Funko sees revenue boost in Q2, credits growth in its product portfolio

It was all fun and games for Funko Inc (NASDAQ:FNKO)  investors in the second quarter after the company saw a 30% revenue boost compared to the previous second quarter.

The pop culture company reported earnings of US$0.01 per share on net sales of US$138.7mln compared with US$0.05 EPS on revenue of US$104.7mln in the previous year’s second quarter.

The Washington-based company’s adjusted earnings of US$0.02 was in-line with Wall Street expectations while its revenue crushed estimates of $122.53mln.

Shares were up around 1% to US$20.45 in Thursday after-hours trading.

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“We saw further growth in our product portfolio, in our geographic footprint, and in our profitability, and we also continued to see robust demand around the world for our products, which feature a diverse mix of evergreen and newly released content that appeals to a wide consumer audience,” said CEO Brian Mariotti in the company’s press release.

Funko creates bobblehead-like figurines of pop culture characters. The vinyl toys are designed to look like mini versions of characters from Disney, Star Wars, Marvel, DC Comics, WWE and other popular characters from TV, movies, video games and even politics.

READ: Small-Cap Snapshot: Pop culture company Funko partners with Pokémon to release Pikachu figurines

“Looking ahead, we have a strong pipeline of products that we are preparing to launch during the second half of 2018, especially Pokémon and Fortnite, which we recently secured,” added Mariotti.

In a collaboration with The Pokémon Company International, Funko introduced a Pikachu figurine, one of the franchise’s most iconic characters. It went on sale as a Target exclusive on July 29 and was sold out shortly after, according to a report by The Verge, but it appears to be available again on Target’s website as of Thursday afternoon.

The company announced a partnership with Epic Games to create toys and collectibles based on the popular battle royale game Fortnite. The toys are expected to launch by the 2018 holiday season.

Story by ProactiveInvestors