Hasbro reports 20% revenue drop, issues downbeat 2024 outlook
Publishing timestamp: 2024-02-13 12:00:46
Summary
Hasbro reported a more than 20% hit to its fourth-quarter revenue and issued a downbeat forecast for 2024. The company lost $1.06 billion in the last three months of 2023, wider than its losses in the previous year. Hasbro expects further revenue declines in the year ahead and plans to cut $750 million in costs by the end of 2025. Shares of the company dipped about 5% following the report.
Sentiment: NEGATIVE
Tickers: HAS,
Keywords: business news, hasbro inc, breaking news: business, retail industry, business, earnings, dividends,
Source: https://www.cnbc.com/2024/02/13/hasbro-has-earnings-q4-2023.html