Hasbro (HAS) Earnings Driven By Strong Sales At Boys’ Toys Division
Hasbro Inc (NYSE: HAS) announced a 77% jump in its fourth-quarter earnings, handily beating analyst expectations, on strength in the company's revenues.
The second largest toymaker after Mattel, Hasbro said it earned $165.6 million, or $1.09 a share, on sales of $1.38 billion in the quarter. In the same quarter a year ago, HAS’ earnings came at $93.6 million, or $0.62 a share, on sales of $1.23 billion. The analysts had expected the company to earn $0.81 per share.
Hasbro expects to continue to generate strong earnings in the current year after the creation of Hasbro Studios and the formation of its joint venture with Discovery Communications for The Hub television network. It believes its long-term growth will also be enhanced by its presence in emerging markets and core long-term licenses.
HAS soared 12.27% to $34.58 at 1:50 p.m.
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