Hasbro Posts Q2 Revenue Above Street View; Divests eOne Film And TV Business To Lionsgate
Portfolio Pulse from Shivani Kumaresan
Hasbro Inc reported a 10% YoY decline in Q2 FY23 sales to $1.21 billion, beating the analyst consensus. The company also reported an operating loss of $188.6 million. Hasbro has agreed to sell its eOne film and TV business to Lions Gate Entertainment for approximately $500 million. The company's outlook for FY23 revenue is a decline of 3-6%, driven by the Entertainment Segment. HAS shares are trading higher by 1.85% in premarket.
August 04, 2023 | 1:04 pm
News sentiment analysis
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NEUTRAL IMPACT
Hasbro reported a decline in Q2 FY23 sales but beat analyst expectations. The company is selling its eOne business to Lions Gate and has revised its FY23 revenue outlook.
Despite the decline in sales, Hasbro beat analyst expectations which could have a positive impact on the stock. However, the sale of the eOne business and the revised revenue outlook could introduce uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lions Gate Entertainment is acquiring Hasbro's eOne film and TV business for approximately $500 million.
The acquisition of Hasbro's eOne business could potentially increase Lions Gate's assets and revenues, which could have a positive impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Lions Gate Entertainment is acquiring Hasbro's eOne film and TV business for approximately $500 million.
The acquisition of Hasbro's eOne business could potentially increase Lions Gate's assets and revenues, which could have a positive impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80