Shares of Hasbro Inc. (HAS, Financial) soared by more than 9% in Wednesday afternoon trading after the company reported a profit that advanced to $2.30 a share and a net sales decline of 1.8% to $1.6 billion. Hasbro results beat the analysts’ estimates by 50 cents in earnings per share but fell short $120 million in revenue.
Brian Goldner, Hasbro’s chairman and CEO, said that the team’s execution of the Brand Blueprint drove revenue gains in Franchise Brands, Hasbro Gaming and Emerging Brands.
“Our strong performance ranked Hasbro number 1 across the G11 markets for the full-year 20171. In the fourth quarter, Hasbro Franchise Brand revenues increased 11%. However, overall consumer demand slowed in November and December both for the industry and for Hasbro. A decline in Partner Brands and Europe revenues resulted in us not meeting our fourth quarter revenue expectations. Looking ahead, our innovative lines are supported by robust storytelling and digital initiatives that position us well for 2018 and beyond.”
The company added over $1 billion in revenues in the last five years and grew revenues for four consecutive years. Further, operating profit and net earnings increased while generating positive cash flows. This solid financial position made it possible to pay $277.0 million in cash dividends over the past year. Moreover, the Board of Directors has declared a quarterly cash dividend of 63 cents per common share. This is an increase of 6 cents per share, or 11%.
Shares of Snap Inc. (SNAP, Financial) skyrocketed almost 30% after reporting fourth quarter loss of 13 cents on revenue of $285.69 million on Tuesday. The company managed to beat earnings estimations by three cents and by $32.74 million in revenue.
Further, adjusted EBITDA loss was $158.9 million, an increase of 4% year-over-year and an improvement of 11% sequentially. Full year adjusted EBITDA was a loss of $720.1 million and a loss of $459.2 million the previous year.
Daily Active Users increased 8.9 million or 5% sequentially to 187 million, representing the highest net adds since the third quarter of 2016. DAUs increased 28.8 million or 18% year-over-year.
(Disclosure: The author holds no position in any stocks mentioned).
