Hasbro's stock plunges toward worst day in four years after profit falls well below expectations
HASHasbro(HAS) Market Watch·2024-02-13 19:39

Shares of Hasbro Inc. HAS, +1.38% plunged 12.1% toward their worst performance in four years in premarket trading Tuesday, after the toy maker reported fourth quarter results that fell well short of expectations, amid sharp drops in consumer and entertainment sales. Net losses jumped to 1.06billion,or1.06 billion, or 7.64 a share, from 128.9million,or93centsashare,intheyearagoperiod.Excludingnonrecurringitems,suchasimpairmentofgoodwill,adjustedearningspershareof38centswasdownfrom128.9 million, or 93 cents a share, in the year-ago period. Excluding nonrecurring items, such as impairment of goodwill, adjusted earnings per share of 38 cents was down from 1.31 and ...