Hasbro earnings for the second quarter of the year have HAS stock soaring on Tuesday.
Hasbro (NASDAQ:HAS) reported earnings per share of 78 cents for the second quarter of 2019. This is much better than the company’s earnings per share of 48 cents from the second quarter of 2018. It was also a great blessing for HAS stock by blowing past Wall Street’s earnings per share estimate of 50 cents for the period.
Net income reported in the Hasbro earnings report for the second quarter of the year comes in at $13.43 million. This is down from the company’s net income of $60.23 million reported in the same period of the year prior. The company notes that it saw a $85.9 million non-cash after-tax charge in connection to settling a U.S. pension plan liability during the quarter.
Operating income from the Hasbro earnings report for the company’s most recent quarter is $128.33 million. Operating income reported by the toy company in the second quarter of the previous year was $87.59 million.
The Hasbro earnings report for the second quarter of 2019 also sees it bringing in revenue of $984.54 million. This is up from the company’s revenue of $904.46 million reported during the same time last year. It was also good news for HAS stock by beating analysts’ revenue estimate of $956.75 million for the quarter.
“Our investments are differentiating Hasbro’s portfolio and delivering profitable revenue streams, including continued MAGIC: THE GATHERING revenue growth in tabletop and digital,” Brian Goldner, Chairman and CEO of Hasbro, said in a statement. “We grew revenues in the U.S. and Europe, and we believe we are well-positioned to deliver against our target of profitable growth for the full-year 2019.”
HAS stock was up 8% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.