shares tumbled to their lowest level since 2015 after the toymaker and entertainment company reported a sharp drop in quarterly revenue and earnings results below Wall Street expectations.Inflation
and consumer sensitivity to price played a key role in the company’s 15% earnings slide in the quarter ending September 30, compared with the year-earlier period, and the company is also battling foreign currency fluctuations and supply-chain issues. Revenue totaled $1.68 billion, matching analysts’ consensus estimate, but adjusted earnings per share fell 10 cents short of Wall Street’s outlook, coming in at $1.42.
, which was acquired by Hasbro in 2019. Revenue dropped 35% to $211.6 million and an operating profit a year ago turned into an operating loss of $28.9 million. The company blamed tough comparisons with the 2021 quarter, which saw the direct-to-streaming releases of the films During the company’s earnings call with analysts, CFO Deb Thomas said there would be “significant fourth quarter entertainment revenue for scripted TV.
If they go woke they will go broke.