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Hasbro, Inc. (NASDAQ:HAS): Strong showing of Hasbro Games.
Posted On 26 Jul 2013
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Denver, CO, 07/26/2013 (Avauncer.com) – Shares of Hasbro, Inc. (NASDAQ:HAS) fell 0.04% to close itself at $47.10 in its last trading session. Meanwhile its 52 week range showed $34.56 to $48.97.
Hasbro released its earnings report for the second quarter of 2013 showing earnings of $0.29 per share.
Hasbro has recently signed a deal to buy 70 percent of casual game maker Backflip Studios. This helps the company in creating an impressive portfolio of brands and helps the company to boost its performance over time. It is planning to purchase a controlling stake in Backflip by $112 million. Backflip will continue as an independent company but it will also move ahead to work on games for Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG) Android based phones and tablets.
Hasbro has remained aggressive in its brand development efforts in the past few years. For instance, focusing its core business with toy sales, it has also been stretching its wing creating content based on brands like My Little Pony and Pound Puppies through a joint venture scheme with Discovery Communications Inc. (NASDAQ:DISCA) known as Hub.
Creating sales for the toy is not the only approach that the company has taken. It is also extending itself into the field of creating movies for the big screens as well as directing itself to the video market and video games.
Hasbro is one of the leading makers of board games and card games which are in extension to its toy based games. The popular board games which help the company to boost its sales and created an edge over its competitors are Monopoly, Clue, and Risk.
The company recently entered into a multiyear agreement with Electronic Arts Inc. (NASDAQ:EA) giving the gamer a more exclusive rights. The tie with EA will help the company to boost a new range of games.
Despite of the efforts made by the company, Hasbro has showed a seasonally weak second quarter. Its net profit fell from $43.4 to $36.5 million. It earned around 29 cents a share which is excluding a pension charge, missing the analyst’s average estimate which was recorded at 34 cents.
