Why Hasbro Stock Popped Today
Shares of toy and game company (NASDAQ: HAS) popped on Wednesday after it reported financial results for the first quarter of 2024. As of 1 p.m. ET today, Hasbro stock was up almost 11%.
In December, Hasbro sold much of its film and TV properties to Lions Gate for $375 million, which was used to pay down debt. This divestiture is a big reason that the company's revenue was down 24% year over year to $757 million.
However, even without selling this part of the business, financial results were slow. The company's key consumer products segment had a 21% drop in revenue mostly related to lower sales volume.
Source Fool.com
Hasbro Inc. Aktie
57,35 €
1,47 %
Die Community zeigt bei Hasbro Inc. eine Tendenz zu Buy-Einschätzungen.
Ein positives, wenn auch nicht starkes, Potenzial für Hasbro Inc. mit einem Kursziel von 67 € im Vergleich zu 57.35 €.
