Shares of Hasbro Inc. shed 0.7% in premarket trading Thursday, after the toy maker missed fourth-quarter profit and revenue expectations, as weakness in...
Shares of Hasbro Inc. HAS shed 0.7% in premarket trading Thursday, after the toy maker missed fourth-quarter profit and revenue expectations, as weakness in consumer products offset strength in Wizards of the Coast and gaming, and provided a downbeat full-year outlook. The company swung to a net loss of $128.9 million, or 93 cents a share, from net income of $82.2 million, or 59 cents a share, in the year-ago period.
2 million, or 59 cents a share, in the year-ago period. Excluding nonrecurring items, such as charges related to implementing its Blueprint 2.0 strategy of focusing on fewer, bigger brands, adjusted earnings per share rose to $1.31 from $1.21 but missed the FactSet consensus of $1.33. Revenue fell 16.6% to $1.68 billion, below the FactSet consensus $1.72 billion. Consumer products revenue dropped 25.9% to $1.00 billion and entertainment revenue slumped 11.8% to $334.
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