October 22, 2018 / 10:41 AM / a month ago

Hasbro's revenue misses estimates as Toys 'R' Us impact lingers

Oct 22 (Reuters) - Hasbro Inc reported quarterly revenue below Wall Street expectations on Monday, blaming the bankruptcy of long-term customer Toys ‘R’ Us.

Net earnings fell to $263.9 million, or $2.06 per share, in the third quarter Sept. 30, from $265.6 million, or $2.09 per share, a year earlier.

The company’s revenue fell 12 percent to $1.57 billion, while analysts on average had expected $1.71 billion, according to Refinitiv estimates.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila

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