We have seen earnings this morning from toy giants Hasbro Inc. (NYSE: HAS) and Mattel Inc. (NYSE: MAT). One is a relative winner, while one is not.
Hasbro managed to beat earnings expectations despite a 15% drop in earnings to$0.89 per share. That’s 3 cents better than analysts’ estimates. Revenue posted a 7% gain to$1.3 billion while Hasbro posted a 6% North American gain and a9% international gain. The company said that stronger sales in StarWars, Playskool, Nerf, and board games helped results.
Mattel missed earnings expectations despite posting less thana 1% gain in earnings. The toy maker made $0.66 per share, rather than the$0.71 analysts had expected. It posted a 6% gain in revenue to $1.95 billion andthe company noted that a weak dollar helped sales numbers by roughly2%. American Girl sales still rose 11%, but Barbie sales were off 1%at a time where advertising and operating costs were rising.
Mattel shares are down almost 4% pre-market at $13.89, and its 52-weektrading range is $13.11 to $22.07. So far we have yet to see any realdirection in Hasbro shares.
Jon C. Ogg
October 20, 2008
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
