Hasbro reveals $20M cyberattack costs, $40M-$60M Q2 revenue shift
HAS sits 37% above its 52-week low of $64.74 on elevated volume (3.1× avg).
Summary
Hasbro reported Q1 revenue of $1.00 billion and declared a $0.70 quarterly dividend. The company also quantified the financial impact of its late-March cybersecurity incident, expecting $20 million in one-time costs. Furthermore, Hasbro anticipates $40 million to $60 million of Consumer Products revenue will shift from Q2 into the second half of the year due to the incident. This new detail provides specific financial consequences for the previously disclosed cyberattack, impacting near-term revenue recognition.
At the time of this announcement, HAS was trading at $88.40 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $12.5B. The 52-week trading range was $64.74 to $106.98. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.