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☆ Toymaker Hasbro posts quarterly profit beat, slower sales decline
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: +1 min

Hasbro reported a smaller-than-expected drop in first-quarter sales and handily beat profit estimates on Wednesday, as leaner inventories and steady digital gaming revenue helped cushion a drag from softer demand for toys. However, efforts to clean up its inventory throughout 2023, along with cost efficiencies, helped its operating margin expand to 15.3%, from 1.8% last year. On an adjusted basis, Hasbro reported earnings per share of 61 cents in the quarter ended March 31, compared to 1 cent last year. The toy maker said it was on track to achieve the fiscal 2024 targets it set in February. On Tuesday, Barbie maker Mattel posted a smaller-than-expected loss for the first quarter, helped by its costs-saving measures.

Persons: Barbie, Mattel Organizations: Hasbro, Walmart, Target, Revenue, Wizards, Coast

☆ Rejoice, millennials: The vampire boyfriend is cool again
▼ + stars: | 2024-04-14 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +7 min

If you've spent time on TikTok or X in the past few months, you may have spotted a proliferation of videos and posts about two video game characters. There's Astarion from "Baldur's Gate 3," and more recently, there's Vincent Valentine, a fan-favorite character from Square Enix's "Final Fantasy VII" remake. Square Enix; Gregg DeGuire/Getty ImagesMercer's opening line in "Final Fantasy VII: Rebirth" is now a fandom legend. from within the depths of his velvet-lined coffin, longtime "Final Fantasy" fans were introduced to the super-cool, uber-goth gunslinger. "I hope viewers of the work see, too, that there's more underneath the surface of a person than the trope of this decadent, hedonistic, theatrical vampire," Newbon said.

Persons: —, hasn't, you've, There's, there's Vincent Valentine, Edward Cullen sparkled, Edward, he's, there's, Alucard, Valentine, Matthew Mercer, Neil Newbon, Matt Mercer, Zelda, Vincent Valentine, Gregg DeGuire, Vincent, Mercer, I've, Vox, Scott Garfitt, who's, Astarion, Newbon Organizations: Service, Business, BAFTA, Getty Images

As video game worlds get more expansive, some game studios are experimenting with AI tools to give voice to a potentially unlimited number of characters and conversations. Some fear that AI voices could replace all but the most famous human actors if big studios have their way. SAG-AFTRA has already made a deal with one AI voice company, Replica Studios, announced last month at the CES gadget show in Las Vegas. It sets terms that also allow performers to opt out of having their voices used in perpetuity. We’re not replacing actors.”It was Replica Studios that first reached out to Magee about a voice-over audio clip he had created demonstrating a Scottish accent.

Persons: Andy Magee, Magee, aren't, ”, they've, Joe Biden, Anthony Bourdain —, —, Sarah Elmaleh, “ We’ve, Elmaleh, ” Elmaleh, AFTRA, Fran Drescher, Shreyas Nivas, Nivas, “, Zeke Alton, hasn't, Alton, ” Alton Organizations: Screen, American Federation of Television, Radio Artists, SAG, Studios, CES Locations: Scottish, Northern Ireland, British, U.S, Fortnite, Las Vegas, Vancouver , British Columbia

☆ Hasbro stock plunges after revenue drop, downbeat outlook
▼ + stars: | 2024-02-13 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +2 min

Toy company Hasbro reported a more than 20% hit to its fourth-quarter revenue and issued a downbeat 2024 forecast Tuesday morning. Here's how Hasbro performed in the fourth quarter compared with estimates from LSEG, formerly known as Refinitiv:Earnings per share: 38 cents vs. 66 cents per share expected. 38 cents vs. 66 cents per share expected. Revenue: $1.29 billion vs. $1.36 billion expected. Hasbro expects further revenue declines in the year ahead.

Persons: Gina Goetter Organizations: Hasbro, Brand, ExCel, Toy, Revenue Locations: London, England, LSEG

☆ Baldur's Gate 3 made more than $650 million last year, proving video games don't need microtransactions to succeed
▼ + stars: | 2024-01-28 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Baldur's Gate 3 made more than $650 million on Steam last year. Games that don't rely on microtransactions, in fact, dominated the bestsellers list for 2023. AdvertisementBaldur's Gate 3 smashed expectations, raking in hundreds of millions of dollars last year, proving that not all top-selling games have to have a battle pass. AdvertisementBaldur's Gate 3 was the top-selling game on the platform, outselling its closest competitor — Hogwarts Legacy — by $316 million, according to the report. One of the top trends last year among the top-selling games on Steam was a "lack of microtransactions."

Persons: —, Fortnite Organizations: Steam, Service, Larian, Book, North Carolina Better Business, Epic Games Locations: Baldur's, North Carolina

☆ Xbox is banning users for automatically uploading steamy sex scenes from Baldur's Gate 3
▼ + stars: | 2024-01-13 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Read previewXbox Live users playing Baldur's Gate 3 are getting caught with their pants down, literally, sort of. Baldur's Gate 3 crashed onto the gaming scene last year, nearly sweeping The Game Awards and taking home the prestigious Games of The Year prize. AdvertisementIt's these spicy scenes, however, that are causing Xbox Live to ban users when their devices automatically record and upload them. Sensitive content can be found practically every second of Baldur's Gate because the game allows players to remove all their clothes at any point. how to turn off auto-upload when sensitive content is being captured)."

Persons: —, Vegas Organizations: Service, Games, Business, Kotaku Locations: Baldur's

☆ Magic: The Gathering is a victim of its own success and could weigh on Hasbro stock, Bank of America says
▼ + stars: | 2023-10-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Hasbro stock plunged 16% after it reported third-quarter earnings that missed analyst estimates. The toy company also lowered its revenue guidance, suggesting a weak holiday quarter ahead. Bank of America downgraded Hasbro to "Neutral" and said its Magic: The Gathering franchise is a victim of its own success. Hasbro stock is down 16% since it reported its earnings results on Thursday, and is down 37% since its early-September high. Bank of America downgraded Hasbro to "Neutral" and slashed its price target from $90 to $53.

Persons: —, Jason Haas, Haas, We're, Tim Kilpin's Organizations: Hasbro, Bank of America, Service, Wizards, Coast, & Dragons

☆ Hasbro cuts revenue view, joins Mattel to warn of cloudy holiday quarter
▼ + stars: | 2023-10-26 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File photo Acquire Licensing RightsOct 26 (Reuters) - Hasbro (HAS.O) cut its annual revenue forecast for the second time this year on weak toy demand and joined Barbie-maker Mattel to warn of choppy holiday-quarter sales, sending its shares down 12% before the bell. The Monopoly maker expects 2023 revenue to tumble 13% to 15% compared to a prior forecast of a 3% to 6% decline. Its third-quarter revenue and profit also missed market expectations, with revenue from its core toy business dropping 18% as shoppers cut back on non-essential spending. Hasbro saw a 40% surge in digital and licensed gaming revenue on strong demand for its "Monopoly Go" and "Baldur's Gate III" games. Analysts have warned that uncertain holiday spend and softer toy demand could prompt retailers to keep supply tight and offer steep discounts to avoid a pile-up like last year.

Persons: FAO Schwarz, Andrew Kelly, Barbie, Chris Cocks, James Zahn, Savyata Mishra, Arun Koyyur Organizations: Hasbro, Inc, FAO, REUTERS, Mattel, Consumer Products, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ Nike is among the most overbought stocks in the S&P 500. Here are the others
▼ + stars: | 2023-10-20 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

A stock with a 14-day RSI greater than 70 is considered to be overbought and at risk of a pullback. Here are some of the most overbought names: Sports apparel retailer Nike has a 14-day RSI of 81.89, and just under half of analysts covering the stock rate it a buy. Lockheed Martin is another one of the most overbought companies in the S & P 500. The U.S. defense contractor scored a 14-day RSI of 77.69, with a consensus price target implying 6.8% upside. Also on the oversold list is pharmaceutical company Moderna , which has a 14-day RSI reading of 15.5.

Persons: Piper Sandler, Lockheed Martin, Invesco, Jason Haas, Haas, — CNBC's Michael Bloom Organizations: Nike, Dow Jones, CNBC Pro, Insurance, Cardinal Health, Allstate, Humana, Investment, Hasbro, Wall, Bank of America, Monopoly, Moderna, Pfizer, FedEx Locations: U.S, Lowe's

☆ Hasbro revenue beats as gaming boost offsets slowing demand for toys
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, U.S., November 16, 2021. REUTERS/Andrew KellyApril 27 (Reuters) - Hasbro Inc (HAS.O) topped Wall Street expectations for quarterly revenue on Thursday as players snapped up its "Magic: The Gathering" game sets, helping counter slowing demand for its toys and action figures. Hasbro is also banking on the August release of "Baldur's Gate 3" video game to boost gaming revenue in the third quarter. In contrast, rival Mattel Inc (MAT.O) on Wednesday posted a bigger-than-expected quarterly loss, pinched by retailers trimming orders for its Barbie and Hot Wheels toys. Hasbro reported net revenue of $1.00 billion in the first quarter, down 14% from a year earlier, but better than analysts' estimates of $878.4 million, according to Refinitiv IBES data.

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