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Hasbro Beats Estimates

The toymaker is boosted by demand for Transformers and Marvel-related products.
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Hasbro's (HAS) - Get Report third-quarter results topped estimates, boosted by strong demand for Transformers and Marvel movie-related products.

The Pawtucket, R.I., toymaker posted a profit of $161.6 million, or 95 cents a share, up from $99.6 million, or 58 cents a share, a year earlier.

Excluding a one-time tax-related gain, earnings would have been $132 million, or 78 cents a share. That's ahead of analysts' average forecast for earnings of 71 cents a share.

Revenue climbed to $1.22 billion from $1.04 billion the prior year. Analysts targeted a top line of $1.14 billion.

In North America, revenue rose 10% to $745.5 million. Hasbro attributed the growth to shipments of its Marvel and Transformers product lines, which benefited from movie releases during the period. Other strong brands included Furreal Friends, Littlest Pet Shop and My Little Pony, the company said.

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International revenue surged 33% to $374 million, helped in part by favorable currency exchange rates. The international growth also benefited from Transformers and Marvel, as well as gains in Littlest Pet Shop, My Little Pony, Playskool and Monopoly.

Hasbro's results come a week after rival

Mattel

(MAT) - Get Report

posted a drop in third-quarter earnings. The Barbie maker's results were hit by a widespread recall of Chinese-made toys.

Shares of Hasbro were down 23 cents, or 0.8%, to $28.18 in recent trading.