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Hasbro Posts Loss on eOne Deal Cost, Braces for Bigger Virus Impact in Second Quarter

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Toy giant Hasbro on Wednesday swung to a first-quarter loss due to costs from its acquisition of Entertainment One, where film and TV revenues collapsed as content production shut down amid the coronavirus pandemic.

Hasbro posted a first-quarter loss of $69.6 million, or 51 cents per-share, compared to a year-earlier profit of $26.7 million, or 21 cents per share.

The first-quarter loss included $127.5 million in after tax acquisition-related expenses and $19.9 million in after tax purchased intangible amortization associated with the eOne acquisition.

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COVID-19
United States
United States
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India
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