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Hasbro Q3 earnings and profit increased

Staff Writer |
Hasbro posted better-than-expected third-quarter earnings thanks to a strong performance from the Games and Girls segments.

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Net earnings came in at $257.8m, or $2.03 per diluted share, up from $207.6m or $1.64 in the same period a year ago.

Meanwhile, revenue was up 14% to $1.68bn, with growth in all major operating segments. Hasbro said revenues included a negative $2.8m impact from foreign exchange.

Net revenue in the U.S. and Canada was up 16% to $932.8m, while the International segment saw revenue rise 13% to $690.7m. The Entertainment and Licensing business saw revenue climb 8% to $56.1m.

The company said revenue growth in the Girls and Games category more than offset declines in the Preschool category and limited growth in Boys.

Girls revenue was up 57% to $462m, while Games revenue rose 13% to $409.5m. Boys revenue was up just 2% at $605.5m while the Preschool category saw an 8% drop to $202.8m.

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