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Toymaker Hasbro's quarterly sales scraped past analysts' estimates, marking its smallest beat in more than one and a half years, propped up by demand for its Transformers and Nerf toys in the United States.
Hasbro's shares were down 5 percent at $110.25 before the bell on Monday. The stock has surged about 50 percent this year.
Jefferies analyst Stephanie Wissink said most of the company's revenue seems to have benefited from growth in one segment - franchise brands rather from than across the business.
"The partner brands growing just 1 percent looked objectively light relative to growth in the franchise brands," Wissink told Reuters, but she added that Hasbro has come off of a Star Wars cycle and the "Spiderman: Homecoming" movie merchandise launch was also late, which created a wonky quarter.
Sales in Hasbro's franchise brands, which include Transformers and Nerf toys, rose nearly 21 percent.
The No. 2 U.S. toymaker rolled out its "Transformers: The Last Knight" merchandise and toys like Autobots, Decepticons and others based on the film's main characters such as Megatron and Bumblebee in February, ahead of the film's release in June.
The company's "Spiderman: Homecoming" toys, which include the Vulture and Spider-Man figures were also launched in July.
Net revenue from the company's partner brands rose just 1 percent in the second quarter ended July 2, while revenue from emerging brands such as Super Soaker and Easy-Bake Oven, fell 14 percent.
Hasbro's games segment - its third-biggest business saw a 5.9 percent jump in net revenue on strong demand for games such as Dungeons & Dragons and Operation.
Excluding certain items, the company earned 53 cents per share. Analysts on average had expected 46 cents per share, according to Thomson Reuters I/B/E/S.
Net income attributable to Hasbro was $67.72 million, or 53 cents per share, in the quarter, compared with $52.11 million, or 41 cents per share, a year earlier.
The Pawtucket, Rhode Island-based company's revenue rose 10.6 percent to $972.5 million, edging past analysts' average estimate of $972.4 million.