PAWTUCKET, R.I. — Hasbro Inc. today reported first-quarter net income of $116.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the company said it had net income of 84 cents. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $1 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The toy maker posted revenue of $1.11 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $1.18 billion.
Hasbro shares have risen almost 4% since the beginning of the year, while the S&P’s 500 index has risen 11%. The stock has risen 30% in the past 12 months.