Hasbro Stock Gains After Strong Q2 Earnings - Hasbro (NASDAQ:HAS)

Hasbro Inc HAS reported second-quarter revenue growth of 54% year-on-year to $1.32 billion, beating the analyst consensus of $1.17 billion.
Net revenues for the Consumer Products segment rose 33% Y/Y to $689.2 million, Wizards of the Coast and Digital Gaming more than doubled to $406.3 million, and Entertainment jumped 47% to $226.7 million.
Selling, distribution, and administration expenses rose 26% to $354.3 million.
The operating margin for the quarter was 5.8%.
Adjusted operating profit more than quadrupled to $211.6 million. Adjusted operating margin expanded 1060 basis points to 16.0%.
EBITDA increased 117% to $159.5 million.
Adjusted EPS of $1.05 beat the analyst consensus of $0.48.
Net cash provided by operating activities for the six months rose 123.4% Y/Y to $577.1 million.
"As we invest to unlock value from our brands across the blueprint, we are on track to reach our objectives for the year while expanding the reach of our business, reducing debt, and paying our dividend," said CFO Deborah Thomas.
The company held $1.2 billion in cash and equivalents as of June 27, 2021.
Price action: HAS shares are trading higher by 2.59% to $94.80 in premarket on the last check Monday.