Sanrio shares plunge 18% after first-quarter profit misses expectations
Sanrio, the parent company of Hello Kitty, reported first-quarter operating profit below market expectations. Its shares fell as much as 18%, marking the biggest one-day decline since May 2014. The company reported first-quarter operating profit of ¥22.4 billion on Monday, below the consensus estimate of ¥23.4 billion. Nikko Securities analysts said in a research note that the results were lackluster, with no upside surprises.
Sanrio, the parent company of Hello Kitty, reported first-quarter operating profit below market expectations. Its shares fell as much as 18%, marking the biggest one-day decline since May 2014.
The company reported first-quarter operating profit of ¥22.4 billion on Monday, below the consensus estimate of ¥23.4 billion.
Nikko Securities analysts said in a research note that the results were lackluster, with no upside surprises.
The company reported first-quarter operating profit of ¥22.4 billion on Monday, below the consensus estimate of ¥23.4 billion.
Nikko Securities analysts said in a research note that the results were lackluster, with no upside surprises.