Hasbro First-Quarter Profit Drops 71%

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HasbroHasbro's hit battling-top game Beyblade couldn't rescue Hasbro's first quarter from pallid demand for other games and girls toys and spending to launch The Hub TV network.

Net income fell 71 percent and missed Wall Street expectations. Stock in the maker of Scrabble and Nerf dropped 84 cents to $44.95 in morning trading.

The first quarter is typically small for toy makers because it comes just after the crucial holiday season.

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Hasbro First-Quarter Profit Drops 71% originally appeared on BloggingStocks on Thu, 14 Apr 2011 12:05:00 EST. Please see our terms for use of feeds.

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