Hasbro (NASDAQ:HAS) reported first-quarter results on Monday, and shares barely reacted. The company missed revenue estimates but showed improvement in half of its key brands. Were the results enough to beat competitor Mattel (NASDAQ:MAT), which reported its first-quarter last week? 

My Little Pony

Source: Hasbro

Analysts had estimated $690 million in revenue and earnings per share of $0.11. Hasbro reported revenue of $680 million and $0.14 in adjusted EPS. This was only Hasbro's second revenue miss in six quarters but the fourth EPS beat in that same time frame.

But the earnings release also disclosed the numbers for Hasbro's key segments. And those results show how well the company performed compared to Mattel. 

Key segment mixed bag 
Hasbro reports four key -- though somewhat broad -- segments: boys, games, girls, and preschool. The boys' segment performed the worst over the past year, and this first-quarter report was the first time the segment managed year-over-year revenue growth. That growth was thanks to a stronger performance by Nerf products, which was offset by slumping Beyblade sales.

Category

Q1'13

Q2'13

Q3'13

Q4'13

Q1'14

Boys

(20%)

(35%)

(17%)

(16%)

2%

Games

26%

19%

6%

2%

(4%)

Girls

23%

43%

29%

19%

21%

Preschool

8%

4%

(2%)

(1%)

(4%) 

Worldwide net revenue growth, year over year
Source: Company filings

The girls' segment was the only other key improvement for the quarter based on the performances of two My Little Pony brands and the Nerf Rebelle bow. 

Games marked its first year-over-year loss in the past five quarters. Monopoly and Magic: The Gathering cards performed well but were pulled down by the falling sales of card game Duel Masters and Action Battling games. 

The preschool segment continued its losses, as the sale of Playskool products fell too fast to offset the positive performance of Play-Doh. 

Did Hasbro beat Mattel?
Last week, Mattel released first-quarter results that missed both revenue and EPS estimates, with reported revenue of $946 and a loss per share of $0.03. So while Mattel had higher actual revenue than Hasbro, Mattel's estimate miss was also larger.

Mattel breaks out its key or core segments more specifically than Hasbro. And that method showed Barbie continuing a sales decline that carried through most of last year.    

Brands

Q1'13

Q2'13

Q3'13

Q4'13

Q1'14

Barbie

(2%)

(12%)

3%

(13%)

(14%)

Hot Wheels

(3%)

(1%)

(2%)

(8%)

2%

Fisher Price

(7%)

(3%)

0%

(13%)

(6%)

American Girl

32%

14%

20%

3%

5%

Other Girl Brands

56%

23%

28%

12%

4%

 

Worldwide gross sales growth, year over year
Source: Company filings

Further dampening Mattel's first quarter was the uncharacteristic single-digit growth for the other girl brands, which include Monster High dolls and Disney Princess products. And the American Girl segment -- also used to double-digit growth -- only posted a 5% increase. 

If Mattel brands are combined for simplification -- such as adding together the other girl brands with Barbie and American Girl -- the segment growth still doesn't look as promising as Hasbro's numbers. And Hasbro continues to perform exceptionally well with girls, a market that seems to have weakened for Mattel. 

Foolish final thoughts 
Hasbro's first quarter wasn't joyous, but the company seems to stand in a better position than competitor Mattel. The growth in the girls' segment is especially encouraging considering Mattel's slowdown in that demographic.

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Brandy Betz has no position in any stocks mentioned. The Motley Fool recommends Hasbro and Mattel. The Motley Fool owns shares of Hasbro and Mattel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.