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April 29, 2020, 6:11 a.m. EDT

Hasbro's stock slips after adjusted profit misses, revenue comes up shy

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By Tomi Kilgore

Shares of Hasbro Inc. /zigman2/quotes/201249319/composite HAS -0.28% were indicated down nearly 1% in premarket trading Wednesday, after the toy maker reported first-quarter results that missed expectations and withdrew its full-year outlook, citing uncertainty related to the impact of the COVID-19 pandemic. The company swung to a net loss of $69.6 million, or 51 cents a share, from net income of $26.7 million, or 21 cents a share, in the year-ago period. Excluding non-recurring items, such as eOne acquisition-related expenses, adjusted earnings per share came to 57 cents, below the FactSet consensus of 66 cents. Revenue rose to $1.11 billion from $732.5 million but came up shy of the FactSet consensus of $1.15 billion. Gaming revenue rose 30%, partner brands revenue increased 6% and franchise brands revenue edged up 1%, while emerging brands revenue fell 19% and TV/Film/Entertainment revenue dropped 29%. Hasbro said it was committed to paying its dividend. The stock has dropped 25.3% over the past three months through Tuesday, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.66% has lost 16.1%.

/zigman2/quotes/201249319/composite
US : U.S.: Nasdaq
$ 99.15
-0.28 -0.28%
Volume: 583,429
May 7, 2021 4:00p
P/E Ratio
33.45
Dividend Yield
2.74%
Market Cap
$13.64 billion
Rev. per Employee
$800,718
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,777.76
+229.23 +0.66%
Volume: 311.63M
May 7, 2021 5:15p
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