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Oct. 26, 2021, 7:01 a.m. EDT

Hasbro stock rises after profit tops forecasts, revenue rose in line with expectations

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By Tomi Kilgore

Shares of Hasbro Inc. /zigman2/quotes/201249319/composite HAS -0.30% rose 2.1% in premarket trading Tuesday, after the toy maker reported third-quarter earnings that beat forecasts, citing particular strength in its entertainment business. Net income rose to $253.2 million, or $1.83 a share, from $220.9 million, or $1.61 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $1.96 from $1.88 and beat the FactSet consensus of $1.69. Revenue grew 10.9% to $1.97 billion, matching the FactSet consensus, while cost of sales slipped 0.1% to $609.5 million. Entertainment revenue soared 76% to $327.1 million and Wizards of the Coast and digital gaming revenue increased 32% to $360.2 million, while consumer products revenue fell 3% to $1.28 billion, as supply chain disruptions and high demand led to stock levels that were below targets. The stock has dropped 14.7% over the past three months through Monday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% has gained 3.3%.

/zigman2/quotes/201249319/composite
US : U.S.: Nasdaq
$ 98.37
-0.30 -0.30%
Volume: 748,682
Dec. 3, 2021 4:00p
P/E Ratio
30.07
Dividend Yield
2.77%
Market Cap
$13.57 billion
Rev. per Employee
$800,718
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/zigman2/quotes/210599714/realtime
US : S&P US
4,538.43
-38.67 -0.84%
Volume: 2.71B
Dec. 3, 2021 5:35p
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