Hasbro’s profits dropped 71% in Q1 2011 against Q1 2010 ($58.9 million to $17.2 million; source). However, revenues were about the same for both quarters, which means that they took in the same amount of money but spent a lot investing in their new projects, such as The Hub. Beyblade was a big seller, but games and puzzles overall fell 12%.

Still, profits were less than expected. Hasbro is considering moving 120 of its workers from East Longmeadow, MA to its HQ in RI. (source). Which is odd, because a week ago they were complaining about a new tax proposal that would hinder their plans to expand their RI operations. (source)

Mattel also lost profits, down about a third from $24.8 million to $16.6 million, while seeing revenue rise about 8%. Both companies beat sales expectations.