Hasbro third-quarter misses on weak domestic sales
(Reuters) - Toy maker Hasbro Inc's <HAS.O> quarterly results fell short of analysts' expectations as a dip in sales in the company's home market offset strong international growth.
Hasbro's results were in sharp contrast to those of larger rival Mattel Inc <MAT.O>, which reported strong sales growth both in its domestic and international markets on Friday.
For the third quarter, Hasbro's net revenue in the U.S. and Canada fell 7 percent, hurt by declines in its boys, girls, and games and puzzles categories, while international revenue rose 23 percent.
The company earned $171.0 million, or $1.27 a share, compared with $155.2 million, or $1.09 a share, last year.
Net revenue rose 5 percent to $1.38 billion.
Analysts had expected the company to earn $1.30 a share on sales of $1.45 billion, according to Thomson Reuters I/B/E/S.
Shares of the second-largest U.S. toy company and maker of Nerf foam toys and Transformers action figures closed at $34.75 on Friday on Nasdaq.
(Reporting by Abhishek Takle in Bangalore; Editing by Sriraj Kalluvila)