Hasbro Q3 net earnings increased 3 percent
The improvements were partly offset by negative impact of the Toys"R"Us bankruptcy in the U.S. and Canada. Looking ahead, the company projects higher revenues for the fourth quarter.
Net earnings for the third quarter increased 3 percent to $265.6 million or $2.09 per share from $257.8 million or $2.03 per share in 2016.
The latest results included a $0.04 per share benefit from the adoption of FASB ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting.
Net revenues for the third quarter increased 7 percent to $1.79 billion from $1.68 billion in 2016 with good growth in all regions. Analysts expected revenues of $1.78 billion for the quarter.
Third quarter 2017 revenues included a favorable $29.6 million impact from foreign exchange. ■