News

Hasbro Reports Disappointing Q4 Results

1 Mins read

Shares of Hasbro Inc. (HAS) took a nose-dive of 12.1% in premarket trading on Tuesday, marking their worst performance in four years. The dramatic drop came in the wake of the toy maker’s fourth quarter earnings report, which fell significantly short of expectations.

Disappointing Earnings and Revenue

Hasbro reported a net loss of $1.06 billion, or $7.64 per share, in its latest quarter. This is in sharp contrast to the $128.9 million loss, or 93 cents per share, registered during the same period the previous year. Adjusted earnings per share stood at 38 cents, down from $1.31, falling short of the FactSet consensus of 65 cents.

Furthermore, the company recorded a 23.2% decline in revenue, with sales totaling $1.29 billion, which also missed the FactSet consensus of $1.34 billion.

Segment Performance

While some segments showed resilience, others experienced significant setbacks. Wizards of the Coast and Digital Gaming revenue saw a positive growth of 10%. However, Consumer Products revenue plummeted by 19%, and Entertainment revenue sank by a staggering 31%.

Bleak Outlook for 2024

Looking ahead to 2024, Hasbro foresees Wizards of the Coast revenue falling by 3% to 5%, and Consumer Products revenue is expected to decline by 7% to 14%.

Market Comparison

Despite this disappointing news, Hasbro stock has witnessed a relatively strong performance over the past three months, showing an 18.4% increase. In comparison, the S&P 500 index has advanced by only 13.8% during the same period.

Stay tuned for further updates on Hasbro’s efforts to turn the tide and recover from these setbacks.

Related posts
News

North Korea Accused of Stealing Billions Through Cyberattacks to Fund Nuclear Program

3 Mins read
An international report reveals North Korea’s extensive cyber operations, detailing billions stolen through cryptocurrency theft, fake remote tech jobs, and malware, all…
News

The silent war: When virtual attacks inflict real-world devastation

3 Mins read
As digital transformation accelerates worldwide, cyberspace has become vital to the economy and society — but also a high-risk arena for data…
News

'Ether Caught Fire': ETH Surged as Capital Fled Bitcoin in Q3, CoinGecko Report Finds

2 Mins read
Ethereum (ETH) emerged as the frontrunner in crypto’s third-quarter recovery, leaving bitcoin (BTC) behind as capital flowed into altcoins, DeFi protocols, and…

Leave a Reply

Your email address will not be published. Required fields are marked *

− 2 = 6