Hasbro Inc. rose the most in three months after posting second-quarter profit and sales that beat analysts’ estimates, helped by merchandise tied to the “Jurassic World” summer blockbuster.
Earnings in the quarter were 33 cents a share, the Pawtucket, Rhode Island-based company said Monday in a statement. Analysts estimated 29 cents. While sales dropped 3.8 percent to $797.7 million, that still topped analysts’ average projection of $774.4 million.
Hasbro relies on entertainment to drive much of its sales, and last quarter it benefited from increased demand for toys linked to the recently released “Jurassic World” film and the Marvel and Star Wars franchises. Those gains helped offset a sales decline in the girls business.
Hasbro climbed 6.3 percent to $83.15 at the close in New York, the biggest advance since April 20. The shares have gained 51 percent this year.
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