Hasbro (NASDAQ:HAS) announced that third quarter results were mixed. Earnings per share fell by 2.4% to $1.24, beating analyst estimates by four cents. Sales, however, fell by 2.3% to $1.35 billion, missing estimates $1.38 billion. The company said it plans to increase advertising spending by up to 40% during the fourth quarter to boost sales.
Shares are lower by about one percent.
Rival toymaker Mattel (NASDAQ:MAT) announced results that beat estimates last Tuesday, reporting a 21% increase in earnings per share to $1.04, five cents above estimates.
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