Hasbro's stock surges after profit and sales rise above expectations
Shares of Hasbro Inc. surged 4.1% in premarket trade Monday, after the toy maker reported profit and sales that rose above expectations. Earnings for the quarter to Dec. 25 rose to $192.7 million, or $1.52 a share, from $175.8 million, or $1.39 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.64, beating the FactSet consensus of $1.27. Revenue grew to $1.63 billion from $1.47 billion, above the FactSet consensus of $1.50 billion. Boys category revenue fell 3% to $552.3 million, but was above the FactSet consensus of $534.9 million, while girls category revenue jumped 52% to $394.2 million, beating the FactSet consensus of $343.8 million. The stock has run up 12% over the past 12 months through Friday, while the S&P 500 has climbed 22%.
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