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Oct. 26, 2020, 6:43 a.m. EDT

Hasbro's stock rallies toward 8-month high after profit and revenue beat expectations

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By Tomi Kilgore

Shares of Hasbro Inc. /zigman2/quotes/201249319/composite HAS -0.28% rallied 1.7% toward an 8-month high in premarket trading Monday, after the toy maker reported third-quarter profit and revenue that beat expectations, and said deliveries are expected to improve in the fourth quarter. Net income was $220.9 million, or $1.61 a share, after net income of $212.9 million, or $1.67 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $1.88, above the FactSet consensus of $1.63. Revenue grew 12.8% to $1.78 billion, above the FactSet consensus of $1.74 billion, as sales in the U.S. and Canada increased 9% and e-commerce revenue jumped 50%. Revenue from eOne TV and film fell to reflect entertainment delivery delays due to live-action production shutdowns as a result of the COVID-19 pandemic. "Building off this quarter's growth in toys, games and digital we are positioned to deliver a good holiday season," said Chief Executive Brian Goldner. "Live-action entertainment production is returning, and we are set to improve deliveries in the fourth quarter with some moving into 2021." The stock has declined 12.9% year to date through Friday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.74% has gained 7.3%.

/zigman2/quotes/201249319/composite
US : U.S.: Nasdaq
$ 99.15
-0.28 -0.28%
Volume: 583,429
May 7, 2021 4:00p
P/E Ratio
33.45
Dividend Yield
2.74%
Market Cap
$13.64 billion
Rev. per Employee
$800,718
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/zigman2/quotes/210599714/realtime
US : S&P US
4,232.60
+30.98 +0.74%
Volume: 2.05B
May 7, 2021 5:15p
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