By midday, shares had added 1% to $55.18.
Over the three months to March, the company reported unadjusted net income of 24 cents a share compared to a loss of 5 cents a share a year earlier. Analysts surveyed by Thomson Reuters had anticipated a profit of 9 cents a share.
Excluding items, net income of 14 cents a share beat expectations by 4 cents.
Boosting profits over the quarter, revenue in its girls category surged 21% to nearly $140 million and accounted for over one-fifth of total revenue. The segment which includes brands My Little Pony and Nerf Rebelle compensated for slower growth in its boys category.
Overall revenue grew 2% to $679.45 million.
The better-than-expected earnings are in stark contrast to larger competitor Mattel (MAT) which swung to a loss in its first quarter after sales of Barbie tumbled 14%.
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TheStreet Ratings team rates HASBRO INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HASBRO INC (HAS) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."