Why Hasbro Stock Surged This Week

A blowout third-quarter earnings report driven by record card-game sales sent Hasbro (NASDAQ:HAS) surging 18.9% this week.

Hasbro stock changed hands at $117.44 as of the close on Friday, Oct. 23, up 18.9% from Friday, Oct. 16's close. Across those five sessions, the S&P 500 (SNPINDEX:^GSPC) was down 0.5%, and the Nasdaq-100 was down 0.8%.

Hasbro delivered a strong third quarter, posting revenue of $1.60 billion, up 15% year over year beating consensus estimates of $1.48 billion. Adjusted earnings per share (EPS) hit $2.90, comfortably beating the $1.86 Wall Street expectation. Robust operating cash flow of $907.3 million through nine months prompted management to double its annual share repurchase goal from $200 million to $400 million.

Continue reading