Hasbro falls after bigger-than-expected drop in Q3 sales
Updates
** Shares of Play-Doh parent Hasbro HAS.O down as much as6% at $66.33 - lowest since Sept. 11
** Co posts bigger-than-expected drop in Q3 sales, owing to weaker demand for its toys
** Posts Q3 revenue of $1.28 bln vs estimates for a 13.8% drop to $1.30 bln, as per data compiled by LSEG
** HAS expects annual revenue from consumer products segment to fall between 12% and 14%, compared with prior forecast of 7% to 11%
** If losses hold, stock set for worst day since April 30
** Cost-savings efforts help HAS post quarterly adj. operating margin of 25.7%, higher than 22.8% a year ago
** Co logs Q3 adj. profit of $1.73 per share vs estimates of $1.28 per share
** Up to last close, stock up nearly 38% YTD
Reporting by Anuja Bharat Mistry in Bengaluru
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