Why Hasbro Stock Soared Today

Hasbro (NASDAQ: HAS) surged 13.2% through 1:25 p.m. ET Thursday after crushing analyst forecasts for sales and earnings this morning.

Heading into the report, analysts expected the toymaker to earn $0.35 per share, adjusted for one-time items, on sales of just over $1 billion. Hasbro actually earned $0.46 per share, and its sales hit $1.1 billion.

The news wasn't all good. Despite beating estimates, Hasbro sales declined 15% year over year. Mostly this was due to the company's selling its eOne media and production business, but Hasbro's flagship Wizards of the Coast (WotC) subsidiary (think Dungeons Dragons and Magic: the Gathering) saw sales shrink 7%.

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Source Fool.com