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Hasbro shares fell more than 7 percent Monday amid concerns about slowing growth in its boys' division and the loss of the company's "Jurassic Park" license.
The company, which makes a significant part of its revenue through licensed products, announced Monday it would no longer handle "Jurassic Park" licensing after 2017. Earlier, the company had posted quarterly profit and revenue that outpaced analyst estimates.
"We have had a many year relationship with Universal; we will no longer handle 'Jurassic Park' because they are unable to arrive at a mutually beneficial financial arrangement on that brand, " Brian Goldner, CEO of Hasbro, said during an earnings call.
"Jurassic Park" was a headwind for the boys' category in the latest quarter, and it would continue to have an impact into the third and fourth quarters, Goldner said.
"As long as I've been covering Hasbro, I can't recall them losing a license," Gerrick Johnson, analyst at BMO Capital Markets, told CNBC. "They usually win licenses. So, that's a change, especially for a company whose visibility is usually determined by movies and movie exposure."
Although revenue climbed 10 percent in the second quarter — rising to $878.9 million from $797.7 million a year ago — driven by strong demand for its Disney Princess and "Frozen" dolls and its action figures based on "Star Wars" movies, key brands were down in the latest quarter, including "My Little Pony," "Transformers" and "Magic The Gathering."
Hasbro's net income rose 24.6 percent to $52.1 million, or 41 cents per share, in the quarter ended June 26, up from $41.8 million, or 33 cents a share, a year ago. Analysts on average had expected a profit of 39 cents per share and revenue of $859 million, according to Thomson Reuters I/B/E/S.
Revenue from Hasbro's toys targeted at boys, which include toys based on the "Star Wars" films and "Nerf" toy guns, rose 4 percent in the second quarter, a significant drop from its 24 percent growth in the first quarter.
Hasbro cited poor performances from "Transformers" and "Jurassic Park" toys for the minimal growth in boys' toys.
While the boys' division accounted for about 40 percent of Hasbro's total revenue in the second quarter, it saw significantly less growth than that of the girls' category.
Revenue from toys targeted at girls jumped 35 percent, the second increase in seven quarters. Hasbro, the No. 2 U.S. toymaker, acquired the rights to make dolls based on Walt Disney's princesses such as Cinderella and Snow White in 2014 and started selling the dolls this year.
"Licensed toys are important to the toy industry, comprising nearly 30 percent of sales so far this year," research firm NPD Group analyst Frederique Tutt said last month.
Tutt expects the industry to see strong sales of licensed toys based on "Star Wars," "Teenage Mutant Ninja Turtles: Out of the Shadows," "The Secret Life of Pets," "Trolls," and "Finding Dory" films this year.
"Hasbro has yet again delivered another quarter of solid performance thanks to its tactical storytelling strategy, which has continued to resonate with consumers," Jaime Katz, analyst at Morningstar, said in a research note Monday. Hasbro has doubled down on role-play toys, including costumes and accessories.
"We were pleased to hear that inventories were in a strong position, as we are heading back into the key back-to-school and holiday selling seasons, where demand should pick up (we forecast that about 65 percent of revenue for the fiscal year will be captured in second-half 2016)," Katz wrote.
Hasbro shares recently traded down 6.8 percent at $79.72. Ahead of the earnings release, Hasbro shares gained more than 20 percent this year.
Hasbro did not immediately respond to CNBC's request for comment.
—Reuters contributed to this report.
Disclosure: NBCUniversal is the parent company of CNBC and CNBC.com.