Play-Doh, Twister Maker Hasbro Thrives: Q2 Profits Soar Despite Entertainment Slump
Portfolio Pulse from Shivani Kumaresan
Hasbro Inc. (NASDAQ: HAS) reported better-than-expected Q2 FY24 earnings, with a sales decline of 18% year-on-year to $995.30 million, beating the analyst estimate of $943.56 million. Despite a slump in the Entertainment segment, the company saw a significant increase in operating margin and adjusted EBITDA. Hasbro revised its FY24 outlook positively, leading to a 6% rise in its share price.
July 25, 2024 | 12:08 pm
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Hasbro Inc. reported better-than-expected Q2 FY24 earnings, with a sales decline of 18% year-on-year to $995.30 million, beating the analyst estimate of $943.56 million. The company saw a significant increase in operating margin and adjusted EBITDA, and revised its FY24 outlook positively. Shares are up 6% in premarket trading.
The better-than-expected earnings, significant rise in operating margin and adjusted EBITDA, and positive revision of FY24 outlook are strong indicators of improved financial health and operational efficiency. This has led to a 6% rise in share price in premarket trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100