Hasbro's Stock Plunges on Missed Earnings and Slumping Toy Demand
TL;DR Summary
Hasbro's stock plunged 11.9% after reporting fourth-quarter results that fell short of expectations, with net losses widening to $1.06 billion and revenue dropping 23.2% to $1.29 billion. The company expects declines in 2024 revenue for both the Consumer Products and Wizards of the Coast business segments, contributing to a downbeat sales outlook. Inventory was halved, and the stock is on track to suffer its biggest one-day decline since March 2020.
- Hasbro's stock plunges after another profit miss, downbeat sales outlook MarketWatch
- Monopoly maker Hasbro misses quarterly estimates as toy demand slumps Yahoo Finance
- Hasbro: Q4 Earnings Snapshot Quartz
- Hasbro Stock Sinks After Toymaker Projects Lower 2024 Sales The Wall Street Journal
- Hasbro Stock Slumps After Earnings Miss Estimates and Guidance Disappoints Barron's
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