2023-04-27 12:55:05 ET
Shares of Hasbro (NASDAQ: HAS) charged sharply higher Thursday morning, surging as much as 13.5%. As of 12:21 p.m. ET, the stock is still up 13.4%.
The catalyst that sent the toymaker's stock higher was quarterly financial results that were surprisingly strong.
For the first quarter, Hasbro's revenue grew 14% year over year to $1 billion, resulting in adjusted earnings per share (EPS) of $0.01. To put those numbers in context, analysts' consensus estimates were calling for revenue of $877 million and a loss per share of $0.01, so Hasbro's performance was much better than expected.
For further details see:
Why Hasbro Stock Roared 13% Higher Thursday Morning