Commissar SFLUFAN Posted February 13 Share Posted February 13 Hasbro Earned About $90 Million From ‘Baldur’s Gate 3’ So Far (Bloomberg) Quote Baldur's Gate 3, last year's most critically acclaimed video game, has brought in about $90 million since its August release for parent company Hasbro Inc. through a licensing deal. Made by Belgian developer Larian Studios, Baldur's Gate 3 licensed property from Dungeons & Dragons, a famous role playing game by Hasbro subsidiary Wizards of the Coast. "As you turn the corner into 2024, in the front half of the year, you're still going to have the tail from Baldur's Gate 3," Hasbro Chief Executive Officer Chris Cocks said on a call with analysts, adding that sales will persist through the year, but at a slower pace than the third and fourth quarter. As to why BGIII appears to be single-handedly keeping Hasbro in business... Hasbro reports 20% revenue drop, issues downbeat 2024 outlook WWW.CNBC.COM Hasbro now expects to cut $750 million in costs by the end of 2025, up from a previous target of $350 million to $400 million. Quote Toy company Hasbro reported a more than 20% hit to its fourth-quarter revenue and issued a downbeat 2024 forecast Tuesday morning. Shares of the company dipped about 5% following the report. 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 expected Revenue: $1.29 billion vs. $1.36 billion expected For the last three months of 2023, Hasbro lost $1.06 billion, or $7.64 per share, drastically wider than losses of $128.9 million, or 93 cents, a year earlier. After major adjustments related to goodwill and intangible assets, the company reported adjusted earnings per share of 38 cents, still well below analysts’ estimates. For the full year 2023, revenue declined 15% to $1.29 billion, including double-digit sales drops in its consumer products and entertainment segments. Hasbro did see an increase in revenue, however, in its Wizards of the Coast and digital gaming segment, primarily due to licensing revenue related to Baldur’s Gate 3 and Monopoly Go. The company reduced its inventory by more than 50% compared to the year prior. Quote Hasbro expects further revenue declines in the year ahead. In the Wizards of the Coast segment, the company expects a 3% to 5% revenue dip, coupled with a 7% to 12% hit to the consumer products business. The company expects overall adjusted earnings before interest, taxes, depreciation and amortization of $925 million to $1 billion. The company now expects to cut $750 million in costs by the end of 2025, up from a previous target of $350 million to $400 million. In December, the toymaker laid off 1,100 employees after it had already cut 15% of its workforce earlier in the year. 2 Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted February 13 Share Posted February 13 Shareholders and investors are out of their fucking minds. Quote Link to comment Share on other sites More sharing options...
Air_Delivery Posted February 13 Share Posted February 13 All they need is to release a landmark universally acclaimed game every year and they will be fine. 2 Quote Link to comment Share on other sites More sharing options...
Mr.Vic20 Posted February 13 Share Posted February 13 16 minutes ago, Kal-El814 said: Shareholders and investors are out of their fucking minds. Its the mind flayer larva, what can they do? 2 Quote Link to comment Share on other sites More sharing options...
Slug Posted February 13 Share Posted February 13 They need to stop overprinting M:tG. Quote Link to comment Share on other sites More sharing options...
osxmatt Posted February 13 Share Posted February 13 The projected 3-5% decline in 2024 for WOTC makes sense given the fact they’ll be comping against LOTR. Quote Link to comment Share on other sites More sharing options...
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