Hasbro (NASDAQ: HAS) shares rallied in early trading after earnings exceeded Wall St.’s expectations.
The second-largest U.S. toymaker said this morning that its second-quarter net earnings, excluding charges, totaled $46.0 million, or $0.33 per share. Hasbro attributed the 25% year-over-year decline in net income to weak sales in most categories as Americans hold off on buying toys until later in the year. Net revenues for the quarter came to $811.5 million, a decrease of 11% from the same period in 2011. That fell short of consensus estimates.
“In the U.S. and Canada, we have gained share,” said CEO Brian Goldner, “and the teams are focused on returning to historical levels of operating profit as well as partnering with U.S. retailers to shift shipments closer to the peak consumer demand periods in the third and fourth quarters.”
Goldner also said that the company expects its full-year earnings per share and revenue will increase, when excluding the stronger dollar’s impact.
Larger rival Mattel (NASDAQ: MAT) said last week its second-quarter net income rose 20% on lower costs and strength in its Barbie and American Girl dolls.
Hasbro’s shares rose about 5% to $34.54 in early trading. The 52-week range is $31.36 to $40.78.
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.