Hasbro Misses Profit Expectations But Sales Beat

By Markets MarketWatch Pulse

Hasbro Inc. reported third-quarter earnings that rose to $257.8 million, or $2.03 a share, from $208.6 million, or $1.64 a share, in the same period a year ago. Excluding non-recurring items, such as a gain from a sale of assets, adjusted earnings per share came to $1.58, below the FactSet consensus of $1.75. Revenue rose $1.68 billion from $1.47 billion, beating the FactSet consensus of $1.55 billion. Boys toys revenue increased 2% to $605.5 million, beating the FactSet consensus of $547.8 million, while girls toys revenue of $462 million, up 57%, topped expectations of $387.6 million. The stock, which was indicated over 3% higher in premarket trade, has run up 13% year to date through Friday, while the S&P 500 has gained 4.4%.

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