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Home Economie

Hasbro’s revenue jumps 12.8% in the fiscal third quarter.

by souhaib
October 26, 2020
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  • Hasbro’s revenue jumps 12.8% in the fiscal third quarter.
  • The toymaker reports £169.26 million of net income in Q3.
  • The U.S. multinational posts a 50% growth in digital sales.

Hasbro Inc. (NASDAQ: HAS) published its earnings report for the fiscal third quarter on Monday that topped analysts’ estimates for earnings and revenue. The stock jumped to an 8-month high as the company expressed confidence that deliveries were likely to improve further in Q4.

Shares of the company jumped close to 2% in premarket trading on Monday. At £70.50 per share, Hasbro is still more than 10% down year to date in the stock market but has recovered over 100% from a per-share price of £34.27 in March due to COVID-19 disruptions. Trading stocks online is easier than you think. Here’s how you can buy shares online in 2020.


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Hasbro’s Q3 financial results versus analysts’ estimates

Hasbro reported £169.26 million of net income in the third quarter that translates to £1.23 per share. In comparison, its net income was capped at £163.13 million in the comparable quarter of last year or £1.28 per share.

Adjusted for one-time items, the American multinational conglomerate earned £1.44 per share in Q3. According to FactSet, experts had forecast a lower £1.25 of adjusted earnings per share. Hasbro had reported a net loss of £26.36 million in the second quarter, as per the report published in late July.

In terms of revenue, the toymaker saw an annualised growth of 12.8% in the fiscal third quarter to £1.36 billion. FactSet Consensus for third-quarter revenue stood at a slightly lower £1.33 billion. The company attributed the increase to a 9% sales growth in the United States and Canada.

Hasbro also highlighted in its report on Monday that digital sales posted a massive 50% increase in the recent quarter. eOne TV and film revenue, on the other hand, was under pressure in Q3 due to the impact of the Coronavirus pandemic on the entertainment industry.

CEO Brian Goldner’s comments on Monday

CEO Brian Goldner of Hasbro commented on the financial results on Monday and said:

“Building off this quarter’s growth in toys, games and digital we are positioned to deliver a good holiday season. Live-action entertainment production is returning, and we are set to improve deliveries in the fourth quarter with some moving into 2021.”

Hasbro performed fairly upbeat in the stock market last year with an annual gain of more than 20%. At the time of writing, the Pawtucket-based company is valued at £9.66 billion and has a price to earnings ratio of 31.43.



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