Hasbro tanks as trade-war tariffs and a pending acquisition bite into toy profits (HAS)
|10/22/2019||Posted by BusinessMediaguide.Com under General World News||
- Hasbro on Tuesday reported weaker-than-expected earnings and revenue for the third quarter, prompting shares to tumble as much as 11% in early trading.
- Profits saw increased pressure from US-China tariffs and the pending acquisition of media company Entertainment One.
- The company anticipates continued “disruption” in the fourth quarter and is “working to mitigate the impact on consumers,” CEO Brian Goldner said in the report.
- Watch Hasbro trade live here.
Hasbro reported weaker-than-expected profits and revenue in the third quarter as the US-China trade war and a pending acquisition cut into margins.
The toymaker’s stock tumbled as much as 12.4% in early read more >>>