Shares of Hasbro Inc. (HAS) reached a 52-week high of $102.00 Monday morning, and are currently trading at $101.29, up $8.88 or 9.61%, with trading volume soaring over 11.15 million versus an average volume of 663K shares.
The company's Q2 net loss was $22.9 million or $0.17 per share compared to a loss of $33.9 million or $0.25 per share last year.
Adjusted net income was $145.4 million or $1.05 per share versus $2.7 million or $0.02 per share in the prior year period.
Net revenues surged 54% to $1.32 billion from $860.3 million generated a year ago.
Analysts polled by Thomson Reuters expected earnings of $0.48 per share on revenue of $1.17 billion for the quarter. Analysts' estimate typically exclude certain special items.
Brian Goldner, Hasbro's chairman and chief executive officer, said "Wizards continued to generate outstanding results behind a compelling analog and digital release schedule for MAGIC: THE GATHERING. Consumer products revenue increased as demand remains robust for Hasbro toys and games and entertainment revenue grew as we are producing entertainment with strong deliveries..."
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