Wall Street didn't want to play with Hasbro after Q3 results - Steven Mallas

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Wall Street didn't want to play with Hasbro after Q3 results
Oct 19, 2009 08:00 PM UTC

Steven Mallas

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Via BloggingStocks:

Filed under: Earnings reports, Mattel, Inc (MAT), Hasbro Inc (HAS)

Hasbro (NYSE: HAS) isn't doing too well today. Shares of the toy entity are down 3.5% at the time of this writing in early afternoon trading. Third-quarter results are the catalyst, apparently. Management must hate this, because on Friday, rival Mattel (NYSE: MAT) saw a bid after its own earnings release.

Hasbro's top line contracted 2%, and earnings per share, even with some dilution from a joint venture with Discovery Communications (NASDAQ: DISCA) and investments in Hasbro's virtual-studio initiative, increased 11% to 99 cents. Expectations were beat by six pennies. Gee, that was better than Mattel's performance. The maker of Barbie actually saw a per-share earnings decline and came in line with forecasts.

Continue reading Wall Street didn't want to play with Hasbro after Q3 results

Wall Street didn't want to play with Hasbro after Q3 results originally appeared on BloggingStocks on Mon, 19 Oct 2009 15:00:00 EST. Please see our terms for use of feeds.

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