Earnings

Hasbro, Mattel shares rise after earnings

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Game maker Hasbro

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Toymaker stocks rallied Thursday after rivals Hasbro and Mattel posted quarterly results and offered optimistic comments about how their intellectual property will boost their businesses.

Hasbro shares spiked more than 13% Thursday after the toymaker reported first-quarter revenue that topped Wall Street’s expectations. The Monopoly board game maker posted net revenue of $1 billion, beating the $878.4 million expected based on an average of analysts’ estimates compiled by Refinitiv. Revenue declined 14% from $1.16 billion during the year-earlier period. 

The toymaker posted a first-quarter net loss of $22.1 million, or 16 cents per share,…



Source cnbc.com

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