Shares of America's number 2 toymaker Hasbro (HAS) - Get Hasbro, Inc. (HAS) Report were gaining by 5.37% to $101.19 on Monday morning after the company reported better than expected 2017 first quarter earnings.

Adjusted earnings came in at 43 cents per share, topping the expectation for 38 cents per share. Revenue rose by 2.2% year over year to $849.7 million, exceeding the $822.1 million analysts had been expecting.

Hasbro has long been in competition with rival toymaker Mattel (MAT) - Get Mattel, Inc. Report and this quarter was the first since 2000 that Hasbro passed Mattel in quarterly revenue, the Wall Street Journal reports.

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