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Hasbro 2Q results top Street thanks to strength of Play-Doh, Jurassic World goods

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PAWTUCKET, Rhode Island — Play-Doh and "Jurassic World" toys helped push Hasbro's sales higher in the second quarter to beat analysts' estimates.

Shares climbed more than 6 percent in midday trading Monday.

The toy company earned $41.8 million, or 33 cents per share, for the period ended June 28. A year earlier the Pawtucket, Rhode Island-based company earned $33.5 million, or 26 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

Revenue totaled $797.7 million, which also beat Wall Street forecasts. Five analysts surveyed by Zacks expected $781.1 million.

Revenue for the preschool category increased 14 percent, thanks to Play-Doh and shipments of "Jurassic World" goods. Boys' revenue edged up 1 percent on Nerf, "Jurassic World" shipments and growth in Marvel and Star Wars products.

Revenue for the girls' category dropped 22 percent, mostly because of weak Furby sales. Sales of games fell 6 percent.

Hasbro's stock surged $5.05, or 6.5 percent, to $83.30 in midday trading Monday. Its shares are up 56 percent over the past year.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HAS at http://www.zacks.com/ap/HAS

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Keywords: Hasbro, Earnings Report

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