Hasbro profit tops Street estimates

The world's No. 2 toymaker behind Mattel Inc also said its full-year revenue will rise if consumer sales trends continue to improve in line with recent trends in the current quarter.

Hasbro, known for its Transformers and Playskool brands, said third-quarter net profit rose to $150.4 million, or 99 cents a share, from $138.2 million, or 89 cents a share, a year earlier.

Net revenue was $1.28 billion, down from $1.30 billion a year earlier.

Analysts on average were expecting a profit of 93 cents a share, on revenue of $1.32 billion, according to Thomson Reuters I/B/E/S.

Revenue fell in the company's U.S. and Canada segment and international segment, but rose in the entertainment and licensing segment.

The company formed a joint venture earlier this year with Discovery Communications Inc to create a television network aimed at children.

Hasbro has an advantage over rival Mattel Inc this year, due to its lineup of toys tied to movies such as "Transformers - Revenge of the Fallen" and "G.I. Joe - The Rise of the Cobra."

Hasbro is also expected to benefit from movie-related toys next year, when it will also have toys tied to the "Iron Man 2" and "Toy Story 3" movies.

Last week, Mattel, which makes Barbie and Elmo dolls, posted a smaller-than-expected drop in quarterly revenue, helped by gains in its Hot Wheels and American Girl brands.

Both Mattel and Hasbro still face price pressure as key retailers Wal-Mart Stores Inc and Target Corp have already begun offering steep discounts to woo shoppers ahead of the all-important holiday season.

(Reporting by Martinne Geller; Editing by Derek Caney)

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