Toy maker Hasbro says sales, income rise

NEW YORK—Hasbro says its profit grew 8.8 percent in the third quarter, helped by lower costs and slightly higher sales of Transformers and G.I. Joe toys.

The nation’s second biggest toy maker said today its earnings rose to $150.4 million, or 99 cents per share. That is up from $138.2 million, or 89 cents a share a year ago and tops the average analyst estimate of 93 cents a share.

The Pawtucket, R.I.-based company says its joint venture with Discovery Communications hurt earnings per share by 3 cents.

It says revenue fell 1.7 percent to $1.28 billion, missing Street estimates of $1.32 billion.

Hasbro says North American sales reflect stronger sales of toys for boys, but revenue was weighed down by weakness in girls, preschool and the games and puzzles categories.

—The Associated Press