Hasbro maintains annual outlook despite Q1 earnings beat
Hasbro reported quarterly revenue of 1 billion dollars and beat profit estimates. Shares fell as the company kept its annual forecast unchanged despite the beat.
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HASBRO INC maintained its full-year guidance on Wednesday afternoon despite reporting first-quarter revenue of $1 billion, which beat estimates of $964.38 million. Shares fell as the toy maker flagged $30 million in extra costs linked to West Texas Oil. The forecast does not specify that gains from digital gaming may not fully offset rising freight and packaging expenses in the second half.
