Hasbro Inc. (NASDAQ:HAS) Issues Quarterly Earnings Results; Tops Estimate

Hasbro Inc. (NASDAQ:HAS) announced net income for the second quarter of $ 60.30 million or $ 0.48 per share. The company generated net revenue of $ 904.46 million for the same period. While earnings per share dropped-46 percent from the year-ago quarter, revenue fell 7 percent.

On an adjusted basis, Hasbro Inc. revealed adjusted net income of $ 0.58 a share for the second quarter. This topped analysts estimate by $ 0.28 a share while net revenue exceeded street analysts expectation by $ 66 million.

Street analysts are looking for income of $ 0.30 per share on net revenue of $ 838.09 million for the second quarter. Analysts estimates are from Thomson Reuters, excludes one time gain or loss.

Brian Goldner, Chairman and CEO, said, We are investing in our business – in innovation, entertainment and a modern global commercial organization, to drive profitable growth in 2019 and beyond. Consumer takeaway is up for our brands, and we further strengthened our brand portfolio through the acquisition of POWER RANGERS.

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