Hasbro, Inc. (NASDAQ:HAS) stock took a hit on Monday following the release of its earnings report for the second quarter of 2017.
During its second quarter of the year, Hasbro, Inc. reported earnings per share of 53 cents. This is an increase over its earnings per share of 41 cents from the same time last year. This also came in above Wall Street’s earnings per share estimate of 45 cents for the quarter. However, this wasn’t enough o keep HAS stock from sinking today.
Revenue reported by Hasbro, Inc. for its second quarter of 2017 was $972.51 million. The toy company reported revenue of $878.95 million in the second quarter of 2016. Despite the increase, it wasn’t enough to reach analysts’ estimate of $974.20 million for the quarter, which likely hurt HAS stock.
Hasbro, Inc. saw its U.S. and Canada revenue increase by 16%, International revenue go up by 6%, and Entertainment and Licensing revenue drop by 1% in the second quarter of 2017 when compared to the same time last year.
Operating profit reported by Hasbro, Inc. in the second quarter of the year was $99.98 million. This is up from its operating profit of $84.87 million from the same period in the year prior.
Hasbro, Inc. reported net earnings of $67.72 million in the second quarter of 2017. The toy company’s net earnings from the same quarter of the previous year was $49.42 million.
Hasbro, Inc. has also announced its next quarterly cash dividend. This dividend will be 57 cents per share and will be available to investors on Aug.15, 2017. To receive the dividend, investors must own HAS stock as of Aug. 1, 2017.
HAS stock was down 9% as of Monday afternoon, but is up 34% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
