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Why Hasbro Stock Soared Today
Hasbro (NASDAQ: HAS) surged 13.2% through 1:25 p.m. ET Thursday after crushing analyst forecasts for sales and earnings this morning.Heading into the report, analysts expected the toymaker to earn $0.35 per share, adjusted for one-time items, on sales of just over $1 billion. Hasbro actually earned $0.46 per share, and its sales hit $1.1 billion. The news wasn't all good. Despite beating estimates, Hasbro sales declined 15% year over year. Mostly this was due to the company's selling its eOne media and production business, but Hasbro's flagship Wizards of the Coast (WotC) subsidiary (think Dungeons & Dragons and Magic: the Gathering) saw sales shrink 7%. Continue reading
Hasbro (NASDAQ: HAS) surged 13.2% through 1:25 p.m. ET Thursday after crushing analyst forecasts for sales and earnings this morning.
Heading into the report, analysts expected the toymaker to earn $0.35 per share, adjusted for one-time items, on sales of just over $1 billion. Hasbro actually earned $0.46 per share, and its sales hit $1.1 billion.
The news wasn't all good. Despite beating estimates, Hasbro sales declined 15% year over year. Mostly this was due to the company's selling its eOne media and production business, but Hasbro's flagship Wizards of the Coast (WotC) subsidiary (think Dungeons & Dragons and Magic: the Gathering) saw sales shrink 7%.
