Hasbro revenue up, profit down on tax code changes

HASBRO grew revenue year over year in 2017, but saw profit decline due to repatriation taxes driven by the new tax code. / BLOOMBERG FILE PHOTO/DANIEL ACKER
HASBRO grew revenue year over year in 2017, but saw profit decline due to repatriation taxes driven by the new tax code. / BLOOMBERG FILE PHOTO/DANIEL ACKER
PROVIDENCE – Hasbro Inc. reported net income of $396.6 million for 2017, which thanks to a $296.5 million charge as a result of the federal tax overhaul, represented a 25.6 percent year-over-year decline. Removing the effects of the one-time repatriation of tax assets, the company estimated that its net income for the year would have…
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