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Hasbro Undershoots Q1 Expectations, Citing COVID-19 And EOne Deal Impact
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deadline.com
deadline.comBy Dade Hayes Finance Editor Hasbro shares dipped in pre-market trading after the toy and entertainment company reported first-quarter results slightly below Wall Street expectations.
Earnings swung to a loss of 51 cents a share from 21 cents in the year-ago quarter. Excluding one-time charges, notably costs related to the $4 billion acquisition of mega-indie eOne, earnings came to 57 cents a share.
That was a penny below Wall Street analysts’ consensus expectation, per Refinitiv. Revenue of $1.11 billion undershot the estimate of $1.14 billion.
Shares fell 6% in the pre-market, to $77.86. Hasbro, like many firms, withdrew its financial guidance for the duration of 2020, citing the uncertainties related to COVID-19.
Read more on deadline.com
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