Hasbro profit beats, Discovery deal to hurt less
By: Reuters | 20 Jul 2009 | 07:29 AM ET
NEW YORK (Reuters) - Hasbro Inc <HAS.N>, the No. 2 toy company, posted a higher-than-expected quarterly profit on Monday, helped by lower costs and demand for toys linked to summer movies such as G.I. Joe and Transformers.
Hasbro also said that its recent tie-up with Discovery Communications Inc <DISCA.O> for a kids' television network and website would cost it less than it had originally thought, due to lower expenses.
Net profit rose to $39.3 million, or 26 cents a share, from $37.5 million, or 25 cents a share, a year earlier.
Its profit beat the average analysts' expectation for 23 cents a share, according to Reuters Estimates.
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