Monday morning, Hasbro Inc. (NASDAQ: HAS) reported earnings for its third quarter of $1.46 per share and $1.47 billion in revenue. That was against Thomson Reuters estimates of $1.45 in earnings per share and $1.47 billion in revenue. In the third quarter of the previous year, the company recorded earnings of $1.31 per share and revenue of $1.37 billion.
The company offered no guidance for the following quarter or for the full year, but there are consensus estimates of $1.31 in earnings per share and $1.38 billion in revenue for the fourth quarter.
For the third quarter, overall revenues increased 7% across all major operating segments. Emerging market revenues increase by 29% and franchise brand revenues grew 36%. Adjusted operating profit grew by 9% and net earnings moved up by 9% as well.
In this quarter, Hasbro repurchased 2.4 million shares of common stock for a total cost of $124.5 million, or an average price of $52.56 per share.
Brian Goldner, Hasbro’s president and chief executive officer, said:
Our third quarter results continued to reflect the momentum we are building in our franchise brands and key partner brands, the positive results of our investments globally and the benefits of leading with compelling content and storytelling. In the third quarter, we grew revenues across all operating segments, delivered improved profitability and took strategic steps to grow our brand portfolio and content delivery over the longer term, including forming a new strategic merchandising relationship with Disney Consumer Products for the globally popular Disney Princess and Frozen properties.
Shares have a consensus analyst price target of $58.09 and a 52-week trading range of $47.48 to $56.91. The company has a market cap of almost $7 billion.
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