Hasbro blows past estimates as Star Wars boosts revenue
Hasbro Inc. said Monday it had net income of $175.8 million, or $1.39 a share, in the fourth quarter, up from $169.9 million, or $1.34 a share, in the year earlier period. The toy company said revenue rose to $1.47 billion from $1.30 billion. The FactSet consensus was for EPS of $1.30 and revenue of $1.37 billion. The company said growth in the boys, games and preschool categories in the U.S. offset a decline in the girls category for the full year. The growth was driven by franchise brand Nerf revenues, as well as revenues from Star Wars, Jurassic World and Marvel. The company said it is raising its quarterly dividend by 11% to 51 cents per share. The new payment will be made May 16 to shareholders of record as of May 2. Shares were not yet active in premarket trade, but are up 33% in the last 12 months, while the S&P 500 has lost 8.5%.
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