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UPDATE: Hasbro Q3 Profit Beats Street View


Hasbro (NASDAQ: HAS) reported better-than-expected earnings for the third quarter.

The Pawtucket, Rhode Island-based company posted quarterly net earnings of $180.5 million, or $1.40 per share, up from $126.6 million, or $0.96 per share, in the year-earlier period. Its adjusted earnings came in at $1.46 per share.

Its revenue climbed 7.3% to $1.47 billion versus $1.37 billion. However, analysts were projecting earnings of $1.45 per share on revenue of $1.47 billion.

U.S. and Canada segment net revenue gained 4% to $764.3 million from $735.6 million, while international segment net revenue surged 11% to $649.3 million from $582.7 million. Entertainment and licensing segment net revenue climbed 10% to $53.4 million from $48.6 million.

Boys category revenue jumped 22% to $478.5 million in the quarter, while girls category revenue gained 5% to $407.7 million. Games category revenue rose 2% to $395.2 million, while preschool category revenue slipped 7% to $188.5 million.

During the quarter, the company repurchased 2.4 million shares of common stock at a total cost of $124.5 million.

"Our third quarter results continued to reflect the momentum we are building in our franchise brands and key partner brands, the positive results of our investments globally and the benefits of leading with compelling content and storytelling," said Brian Goldner, Hasbro's President and Chief Executive Officer.

Hasbro shares rose 1.02% to $54.40 in pre-market trading.

Posted-In: profitEarnings News


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