Hasbro: fourth-quarter profit up on Frozen 2, Star Wars

(CercleFinance.com) - Toy maker Hasbro posted an impressive rise in quarterly profit on Tuesday, helped by strong demand for products relating to Disney's "Frozen 2" and "Star Wars".


Fourth-quarter net earnings reached 267.3 million dollars, or 2.01 dollars per share, compared to just 8.8 million dollars, or 0.07 dollar per share, in the fourth quarter 2018.

Excluding a gain from foreign currency hedging, profit was 1.24 dollar a share for the US toy company. In comparison, the consensus was looking for 91 cents.

The maker of Play-Doh and Transformers toys said fourth-quarter sales rose 3% to 1.43 billion dollars, in line with analysts' expectations.

Hasbro shares were up over 7% in pre-market trading on the New York Stock Exchange after this report.

Copyright (c) 2020 CercleFinance.com. All rights reserved.