Piper Jaffray Upgrades Hasbro (HAS) to Overweight; Pullback Creates Chance to Own
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Hasbro Reports Revenue, Operating Profit and Net Earnings Growth for Second Quarter 2016
July 18, 2016 6:30 AM EDTSecond quarter 2016 revenues grew 10% to $878.9 million; Absent a negative $17.7 million impact of foreign exchange, second quarter 2016 revenues grew 12%; Second quarter 2016 revenues grew 11% in the U.S. and Canada segment and 11% in the International segment; Absent the negative $17.0 million impact of foreign exchange, International segment revenues increased 15%; The Entertainment and Licensing segment increased 9%; Growth in all categories: Boys, Games, Girls and Preschool; Franchise Brand revenues up 3%; NERF and PLAY-DOH revenues posted double-digit growth; Partner Brand revenues grew 15% primarily driven by STAR WARS, DISNEY PRINCESS and DISNEYS FROZEN;... More
