Hasbro Blowout

It beats on revenue by more than $100 million.
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Hasbro (HAS) - Get Report blew away first-quarter earnings estimates, citing strong sales of its Marvel, Nerf and Play-Doh toys. Shares rose 3% in preopen trading.

The Pawtucket, R.I., toymaker earned $33 million, or 19 cents a share, for the quarter ended March 31, reversing the year-ago loss of $5 million, or 3 cents a share. Revenue soared 34% from a year ago to $625 million.

Analysts surveyed by Thomson Financial were looking for a break-even quarter on sales of $508 million.

"We are very pleased with the strong start to the year, with all major product categories growing year over year. Our core brands and new product initiatives performed very well with revenue growth for the quarter pretty balanced between our Marvel business and all our other Hasbro business," said CEO Alfred J. Verrecchia. "That said, it is only the first quarter and there is still a lot of business to be done to achieve our full-year financial goals."

Shares rose $1.04 early Monday to $31.25.