Hasbro’s stock plunges toward worst day in four years after profit falls well below expectations

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%.