HAS Beats on Bottom Line

Hasbro (HAS 39.50) reports second quarter earnings of $0.29 per share, $0.05 better than the consensus of $0.24.

Revenues fell 6.9% year-over-year to $737.8 million below the $748.3 mln consensus.

The company repurchased a total of 6.7 million shares of common stock during the second quarter of 2010 at a total cost of $271.4 million and an average price of $40.49 per share.

The company stated "We continue to expect our revenues to be more heavily weighted to the second half of the year as our major initiatives are beginning to launch. Accordingly, we still believe we should be able to grow revenues and earnings per share for the full year 2010, including the dilution from our television investments and barring a further decline in foreign exchange, consumer spending or global economic conditions."