PAWTUCKET, R.I. — Hasbro Inc. today reported a loss of $22.9 million in its second quarter.
On a per-share basis, the company said it had a loss of 17 cents. Earnings, adjusted for non-recurring costs and pretax expenses, came to $1.05 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The toy maker posted revenue of $1.32 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $1.19 billion.
Hasbro shares have declined 1% since the beginning of the year, while the S&P’s 500 index has increased 17%. The stock has increased 19% in the past 12 months.