Finance

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andrew@mtgzone.com

Hasbro’s stock plunges toward worst day in four years after profit falls well below expectations (www.marketwatch.com)

submitted 9 months ago by andrew@mtgzone.com to c/finance@mtgzone.com

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Some relevant stats:

Net losses widened to $1.06 billion, or $7.64 a share, from $128.9 million, or 93 cents a share, in the same period a year ago.

Revenue dropped 23.2% to $1.29 billion, below the FactSet consensus of $1.34 billion.

Among Hasbro’s business segments, Wizards of the Coast and Digital Gaming revenue increased 10%, as growth in digital gaming licenses offset slight declines in Wizards tabletop and digital games sales.

For 2024, the company expects Wizards of the Coast revenue to fall 3% to 5% and Consumer Products revenue to be down 7% to 14%.

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[–] mike@mtgzone.com 3 points 9 months ago

What I'm watching closest is the change in revenue for booster boxes after the introduction of the Play Booster box and the price hike. I think it will contribute towards a bigger hit to their revenue than they are forecasting. It's obviously anecdotal but I'm a box buying consumer and this priced me out.