Hasbro, Inc. (NASDAQ:HAS) shares rose on Tuesday after the toymaker delivered a strong quarterly beat and issued an upbeat outlook.
Investors also cheered fresh capital-return plans and a new licensing deal that deepens the company’s lineup of franchise-based toys.
The Boston-based company reported fourth-quarter adjusted earnings per share of $1.51, outpacing the analyst consensus of 95 cents. Quarterly sales of $1.446 billion beat the Street view of $1.263 billion.
Hasbro revenue rose 31% year over year, driven by an 86% jump in Wizards and Digital Gaming and 7% growth in Consumer Products. A 5% decline in Entertainment partly offset those gains.
Adjusted operating profit reached $315 million, up $202 million from the prior year. Operating margin expanded to …