Why Hasbro Stock Crashed 10% After Beating Earnings
Game maker Hasbro (NASDAQ: HAS) crushed earnings estimates in a third-quarter earnings report released this morning -- and investors are devastated. Despite reporting $1.88 per share in adjusted profit, where Wall Street had expected only $1.62, and despite beating on sales ($1.8 billion), Hasbro stock is down a depressing 10% in 11 a.m. EDT trading. Well, for one thing, although Hasbro did in fact "beat" this morning, its quarter was not an unalloyed success.
