Hasbro Q3 Earnings Surpass Consensus Estimate

(RTTNews) - Play and entertainment company, Hasbro, Inc. (HAS) on Tuesday announced increase in earnings in the third quarter to $253.2 million or $1.83 per share from $220.9 million or $1.61 per share in the same quarter a year ago.

Excluding items, earnings were $1.96 per share, that beat the average estimate of twelve analysts polled by Thomson Reuters at $1.69 per share. Analysts' estimates typically exclude special items..

Revenue for the quarter increased 11% year-over-year to $1.97 billion from $1.777 billion, helped primarily by sales growth in entertainment segment. The consensus estimate was for $1.97 billion.

"Given the strength across our diversified business model, for the full year we continue to target double-digit revenue growth, currently expected in the range of 13% to 16%, and operating margins in line with last year's adjusted level of approximately 15%. We have orders to support the high end of the revenue growth range, but there are supply chain factors out of our control which could impact our ability to fully achieve the upside," said Deborah Thomas, Hasbro's chief financial officer.

Hasbro shares are trading more than 2% higher in the pre-market at $90.35. The stock closed Monday's trade at $88.50, down $1 or 1.1%.