Costs eat into Hasbro's second-quarter profit

Reuters

NEW YORK (Reuters) - No. 2 U.S. toy company Hasbro Inc reported a weaker-than-expected quarterly profit as higher costs offset strong sales.

The maker of Nerf foam toys and Monopoly board games said its net profit rose to $58.1 million, or 42 cents a share, in the second quarter from $43.6 million, or 29 cents a share, a year earlier.

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Excluding items, the profit was 33 cents a share, missing the analysts' average estimate of 39 cents, according to Thomson Reuters I/B/E/S.

Net revenue rose 23 percent to $908.5 million, beating the analysts' average estimate of $854.8 million.

(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)

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