Hasbro misses quarterly revenue estimates

(Reuters) – Hasbro Inc missed analysts’ estimates for quarterly revenue on Monday, hit by shuttered toy stores and production shutdowns due to coronavirus lockdowns, as well as delayed releases of Hollywood movies linked to its action figures.

The company reported an attributable net loss of $33.9 million, or 25 cents per share, for the second quarter ended June 28, compared to a profit of $13.4 million, or 11 cents per share, a year earlier.

Net revenue fell to $860.3 million from $984.5 million, missing analysts’ average estimate of $992.2 million, according to IBES data from Refinitiv.

(Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)