Hasbro Can’t Match Mattel as Revenue, Profits Miss Estimates
Hasbro (NASDAQ: HAS) was unable to match the second-quarter performance of rival Mattel (NASDAQ: MAT) after earnings, announced today, fell well short of Wall Street's expectations.
Despite owning some of the most iconic board games in the industry, such as Monopoly, as well as one of the most popular card games in Magic: The Gathering, the toymaker suffered a 28% drop in revenue to $860.3 million, compared to the consensus estimate of $965.5 million, leading to adjusted earnings of only $0.02 per share, far below the $0.22 per share analysts had been expecting.
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Source Fool.com
