The good news is Hasbro has finally gotten back to reporting profits. The bad news is tt is no longer a man's world as the toy maker was lifted by the soaring sales on girls toys such as My Little Pony and the Nerf Rebelle lines. This is an interesting turn of events considering their showcase boys property is set to roll out the Transformers Age of Extinction movie line starting next month. Read on to see the details on Hasbro's earning reported by the Providence Journal.
Hasbro earned $32.1 million, or 24 cents per share, for the period ended March 30. That compares with a loss of $6.7 million, or 5 cents per share, a year ago.
Stripping out favorable tax adjustments, earnings were 14 cents per share.
Analysts expected earnings of 10 cents per share.
Revenue climbed 2 percent to $679.5 million from $663.7 million, but missed Wall Street’s estimate of $690.1 million.
Last week rival Mattel Inc. reported an unexpected first-quarter loss, hurt by soft Barbie sales and markdowns to clear excess inventory.
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