Hasbro beats estimates

Firm increases third quarter profit by $62 million on last year.
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Hasbro has boosted its Q3 earnings by $62 million or almost 40 per cent to $161.6 million from $99.6 million, this time last year.

The firm says the increased earnings are due to increase demand for Playskool branded and Transformer products.

Hasbro reported an 18 per cent increase in its quarterly sales to $1.22 billion; analysts had predicted a sales figure of $1.14 billion. The firm’s US division experienced a sales hike of 10 per cent while its international segment experienced a 33 per cent increase.

The firm repurchased nearly 13 million shares during the quarter for more than $360 million.

Hasbro’s CEO, Al Verrecchia said: "We are well positioned for the all-important holiday season."

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