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Hasbro beat estimates in its first-quarter earnings report. Margins have improved significantly thanks to cost cuts.
After announcing the first quarter 2024 financial results, arguably the most critical quarter of the year as it sets the tone for any stock, shares of Hasbro Inc. NASDAQ: HAS jumped by as much as 12%.
Hasbro (HAS) shares skyrocketed nearly 12% on Wednesday as the toymaker posted better-than-expected results on shrinking inventory and rising demand for digital games.
Major U.S. equities indexes were little changed in the midweek session, with the uncertain path toward lower interest rates weighing on sentiment as investors digest a slew of earnings reports from some of the biggest names in the stock market.
The two biggest U.S. toymakers, Hasbro Hasbro and Mattel Mattel , saw their stock prices jump today despite both companies reporting sales declines during the first quarter.
Hasbro (HAS) first-quarter 2024 results gain from turnaround endeavors. It achieves anticipated revenues and experiences notable enhancements in operating profit.
Although the revenue and EPS for Hasbro (HAS) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Hasbro Inc (NASDAQ:HAS), the toys and board game maker, is preparing to open 9.5% higher on Wednesday after it beat profit estimates and experienced a smaller-than-anticipated drop in sales. Sales at the Monopoly and Nerf owner fell by around 24% to US$757.3 million during the first quarter, improving on Wall Street guidance of a 26.2% drop to US$738.6 million.
Hasbro easily beats quarterly estimates for earnings and sales.