Why Monopoly Game Owner Hasbro's Shares Are Taking A Hit Today
Portfolio Pulse from Shivani Kumaresan
Hasbro Inc reported a 10% YoY decline in Q3 FY23 sales to $1.503 billion, missing the analyst consensus estimate of $1.644 billion. The company's Consumer Products segment fell 18%, while the Entertainment segment plunged 42%. Hasbro incurred an operating loss of $169.5 million, compared to an operating income of $194.3 million a year earlier. The company's shares are trading lower by 11% at $48.52.
October 26, 2023 | 1:37 pm
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Hasbro's Q3 FY23 sales and earnings missed estimates, leading to an 11% drop in its stock price.
Hasbro's lower than expected Q3 FY23 sales and earnings have negatively impacted investor sentiment, leading to a drop in its stock price. The company's operating loss, as opposed to an operating income in the previous year, further exacerbates the situation.
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