Hasbro Tops Estimates, but Mattel Misses
Hasbro
(HAS) - Get Hasbro Inc. Report
easily surpassed Wall Street's expectations with its first-quarter results, but fellow toymaker
Mattel
(MAT) - Get Mattel Inc. Report
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disappointed analysts with its numbers.
Hasbro said its revenue for the quarter rose 13% from last year to $704.2 million. Earnings climbed to $37.5 million, or 25 cents a share, from $32.9 million, or 19 cents a share, a year ago.
Analysts were looking for a profit of 14 cents and sales of $582.6 million. Shares of Hasbro rose 5.2% to $33.20 early Monday.
Meanwhile, Mattel reported a loss of $46.6 million, or 13 cents a share, in its first quarter, reversing last year's profit of $12 million and 3 cents a share.
Sales for Mattel declined 2% year over year to $919.3 million. Analysts had been expecting Mattel to earn 1 cent a share in the quarter on revenue of $926.6 million. Mattel's stock was losing 3.6% to $21.
This article was written by a staff member of TheStreet.com.
