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Shares in Hasbro, the toymaker behind the board game Monopoly, rallied early on Monday after it unveiled quarterly results that easily beat Wall Street estimates and lifted its dividend.
The group said its fourth-quarter sales climbed by 11 per cent to $1.63bn, zipping past analyst forecasts of $1.5bn. Net profits rose to $192.7 million, or $1.52 per share, from $175.8m, or $1.39 per share in the same three-month period in 2015.
On an adjusted basis, which excludes certain charges, earnings per share of $1.64 also exceeded estimates of $1.28.
“Hasbro’s global team delivered a tremendous 2016,” said Brian Goldner, chief executive.
Hot on the heels of the upbeat quarter, the company also boosted its quarterly dividend by 12 per cent to 57 cents.
Shares rallied by 5.9 per cent in pre-market trading in New York. They were up by 6.2 per cent year-to-date as of Friday’s close.
In the fourth quarter, Hasbro’s girls division notched revenue growth of 52 per cent to $394.2m, helped by Disney Princess and Disney Frozen dolls and Dreamworks’s Trolls. The games unit experienced growth of 11 per cent, while Boys sales fell 3 per cent, and pre-school revenues slipped 4 per cent.
Top photo credit: Hasbro
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