Hasbro Announces Earnings

Hasbro (HAS) announced that third quarter results were mixed. Earnings per share fell by 2.4% to $1.24, beating analyst estimates by four cents. Sales, however, fell by 2.3% to $1.35 billion, missing estimates $1.38 billion. The company said it plans to increase advertising spending by up to 40% during the fourth quarter to boost sales.