What happened

Shares of Hasbro, Inc. (NASDAQ:HAS) were headed lower today, after the toymaker posted disappointing sales growth in its second-quarter report.

As of 3:28 p.m. EDT, the stock was down 9.3%.

A Transformer

Image source: Hasbro

So what

Hasbro said declines in brands such as Easy-Bake Oven, Super Soaker, and Playskool weighed on overall growth, as revenue increased 11% to $972.5 million, just barely missing estimates at $973 million. Earnings per share jumped 30% to $0.53, including a penny per share from a change in accounting methods. That result easily cleared the consensus at $0.46; however, the stock's robust growth this year had lifted investor expectations.

CEO Brian Goldner called it a "very strong quarter" and said the company "entered the important second half of the year with strong consumer momentum, a robust and diverse entertainment slate, and compelling new brand initiatives." Strong growth in Transformers and Nerf drove sales in franchise brands, its biggest segment, up 21%. Sales of emerging brands, which includes Easy-Bake Oven and Super Soaker, declined 14%.

Now what

International sales growth also slowed to just 6% in the quarter, and management cited softness in Brazil and the U.K. 

While there were weak spots in the report, the strong profit growth indicates the underlying strength of the company and its brands. Hasbro didn't issue guidance, so investors seem to be punishing the stock for missing sales estimates for the first time in more than two years. I'd tend to see today's drop as a buying opportunity given the overall solid performance, and an upcoming boost from the new Star Wars movie at the end of the year.

Jeremy Bowman has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Hasbro. The Motley Fool has a disclosure policy.