Toy giant Hasbro on Monday posted second-quarter financial results that missed Wall Street forecasts for earnings and revenue as the novel coronavirus pandemic caused production delays, hitting its Entertainment One film and TV division, and delays in its movie releases amid cinema closures.
Hasbro swung to a quarterly loss of $33.9 million, or 25 cents a share, compared to earnings of $13.4 million, or 11 cents a share, in the same period of 2019.
Stripping out one-time acquisition-related expenses, including severance and amortization, at eOne, Hasbro recorded adjusted earnings of $2.7 million, or 2 cents per diluted share.