Hasbro Profit Beats on Higher Sales of Boys Toys


Hasbro reported a better-than-expected quarterly profit as toys based on "Star Wars" and "Jurassic World" movie series boosted sales of its toys targeted at boys.

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Revenue in Hasbro's toys for boys category, its largest business, rose 24 percent in the third quarter. The business accounted for about 40 percent of the company's total revenue.

Revenue in Hasbro's preschool toys category, under which it makes Play-Doh and Playskool toys and games, increased about 17 percent.

Shares of Hasbro, which also makes Monopoly board game, rose about 3 percent to $80 in light premarket trading on Monday.

Net income attributable to the company rose 15 percent to $207.6 million, or $1.64 per share, in the quarter ended Sept. 27.

Excluding items, Hasbro earned $1.58 per share, beating the average analyst estimate of $1.52, according to Thomson Reuters I/B/E/S.

Net revenue was flat at $1.47 billion, slightly below analysts' expectations of $1.48 billion.

Excluding the impact of a strong dollar, revenue rose 9 percent.

(Reporting by Nayan Das in Bengaluru; Editing by Kirti Pandey)

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