HAS stock gained after Hasbro said it earned $32.1 million during the first quarter. In the year-ago period, HAS reported a loss of $6.7 million. Adjusted EPS came in at 14 cents, easily beating the 10 cents that analysts had forecast, the Wall Street Journal noted.
The company said it generated revenue of $679.5 million in the first quarter, up 2.4% from the same time a year ago. But that disappointed Wall Street, which was looking for revenue of $690 million.
HAS noted that sales of girls toys jumped 21% to $138.7 million during the quarter, while boys toys increase 2.1% to $247.8 million. By contrast sales of preschool products and games sank by 3.6% and 4.5%, respectively.
Input costs at HAS declined 3.4%, while Hasbro’s gross margin increased from 59.7% to 61.9%.
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