Hasbro Beats Profit, Sales Expectations

By Tomi KilgoreMarketWatch Pulse

Toy maker Hasbro Inc. reported a second-quarter profit that rose to $41.8 million, or 33 cents a share, from $33.5 million, or 26 cents a share, in the same period a year ago. That beat the FactSet earnings-per-share consensus of 29 cents. Revenue fell 4% to $797.7 million, above the FactSet consensus of $774 million, as gains in Hasbro franchise brand Nerf, Marvel and Star Wars products, and shipments of Jurassic World products, helped offset declines in games and girls categories. "Our second quarter results came with numerous challenges, including a significant negative foreign exchange impact and difficult year-over-year comparisons in several brands," said Chief Financial Officer Deborah Thomas. "Even with these challenges, we delivered a strong second quarter and a good first half of 2015. We continue to make important investments across our business to promote brand initiatives and to further improve the global efficiency of Hasbro." The stock, which was mostly inactive in premarket trade, had climbed 5.5% over the past three months, while the S&P 500 has gained 1.3%.

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