Hasbro, Inc.(NASDAQ:HAS) has declared its results for the period ending September 30. While its third quarter net profit dipped 4 percent, the adjusted results were better than expectations on the Street. The slippage in profits was mainly due to unfavorable foreign exchange rates and fall in sales in Europe and in the Asia Pacific region.
The toymaker make profits of $164.9 million, which works out to $1.24 a share. Last year, the company had earned $171 million or $1.27 a share. If the foreign exchange rates are not taken into consideration, the Rhode Island based company’s earnings per share are $1.28, compared to analyst estimates of $1.20.
Revenue fell 2 percent from $1.38 billion to $1.35 billion. Minus the unfavorable forex effect, the revenue is $1.39 billion, against Street estimates of $1.38 billion.
Last week, Hasbro’s rival Mattel had also posted good results because of improved sales of American Girl dolls and Fisher-Price toys.
Caterpillar Inc.(NYSE:CAT)’s profit for the third quarter has risen a whopping 50 percent, thanks to higher sales in the U.S. and also increase in prices. The world’s largest maker of tractors and excavators made a profit of $1.7 billion or earnings of $2.54 a share. This is a vast improvement over last year’s earnings of $1.14 billion or $1.71 per share.
Revenue rose 5 percent to $16.45 billion.
Shares of CAT are up 0.32% to $84.13