Toymaker, Hasbro Inc. (NASDAQ: HAS) said on Monday that fiscal third quarter earnings rose 17% as the bottom line was bolstered by a double-digit percentage revenue growth in emerging markets and benefits arising from tax adjustments, offsetting weakness in the domestic market. For the latest period, sales in the girls’ segment climbed 29% to $388.7 million; it declined 17% to $392 million at its boys’ segment while sales in games’ segment increased 5.9% to $387.5 million. Revenue from emerging markets soared 22%. Overall revenue rose 1.9% to $1.37 billion. In the U.S. and Canada, revenue slipped 5% while international sales climbed 11%. Both core earnings and revenue topped analysts’ expectation.
Tag: HAS
Electronic Arts, Hasbro Enters in a 4-Year Deal (HAS, EA)
Toy maker, Hasbro Inc. (NASDAQ: HAS) and video game console maker, Electronic Arts Inc. (NASDAQ: EA) announced on Tuesday that the both companies have entered in a 4-year agreement, under which, Electronic Arts will create former’s best-selling games for mobile platform.
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Hasbro Reports Q3 Results (HAS)
Hasbro Inc. (NASDAQ: HAS), a toymaker, today reported its third-quarter financial results, posting a decline in earnings and revenue. However, the company’s adjusted earnings beat Street estimates. The company also said that it is gearing up to increase sales in the upcoming holiday shopping period.
Zynga Losses Bidding War, Canadian gaming Company Amaya Gaming Group to Acquire Ongame (ZNGA)
Social gaming company, Zynga Inc. (NASDAQ: ZNGA) has failed to acquire online poker provider Ongame Network. Even though Zynga was said to be “leading the race” for quite few months, the Montreal Canada-based company, Amaya Gaming Group eventually won the bidding. Amaya Gaming Group announced on Monday that it bought Ongame for $32.2 million from Bwin.party.
Hasbro Shares Rise as Q2 Profit Beats Estimates (HAS)
Shares of Hasbro Inc. (NASDAQ: HAS), the second-largest U.S. toymaker, rose sharply on Monday after the company reported better-than-expected second-quarter profit, driven by better inventory management and market share gains.
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