Hasbro, Inc. (NASDAQ:HAS) stock was up today despite missing revenue estimates for the fourth quarter of 2017.
Revenue reported by Hasbro, Inc. for the fourth quarter of the year was $1.60 billion. This is down from its revenue of $1.63 billion that was reported in the fourth quarter of 2016. It also wasn’t able to meet Wall Street’s revenue estimate of $1.72 billion for the period.
While the revenue miss isn’t good news for Hasbro, Inc., strong earnings per share for the quarter are likely what has HAS stock soaring. The toy maker reported earnings per share of $2.30 for the quarter. This is up from its earnings per share of $1.64 from the same time last year. It also comes in well above analysts’ earnings per share estimate of $1.80 for the quarter.
Hasbro, Inc. reported a net loss of roughly $5 million during the fourth quarter of the year. This is down from its net income of $181 million that was reported in the same quarter of the previous year.
The toy company points out that its net income for the fourth quarter of 2017 suffered from the recent tax reform. When excluding this charge, the company’s net income for the fourth quarter of the year came in at $291 million.
Hasbro, Inc. also reported operating profit of $271 million for the fourth quarter of 2017. This is an increase over its operating profit of $255 million that was reported in the same period of the year prior.
HAS stock was up 6% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
