Why Hasbro's Stock Is Trading Higher Today

Hasbro Inc HAS is trading higher Monday after the company announced better-than-expected second-quarter financial results.

Hasbro reported quarterly earnings of $1.05 per share, which beat the estimate of 48 cents per share. The company reported quarterly revenue of $1.32 billion, which beat the estimate of $1.17 billion.

"Hasbro delivered an excellent second quarter, with revenues up 54% versus the second quarter of last year and 9% versus pro forma second quarter 2019," said Brian Goldner, chairman and CEO of Hasbro.

Hasbro reaches customers by leveraging its well-known brands such as Transformers, Nerf, and Monopoly.

Price Action: Hasbro has traded as high as $101.24 and as low as $70.78 over a 52-week period.

At last check Monday, the stock was up 9.7% at $101.17.