Sanrio Shares Plunge 20% After ¥22.4 Billion 1Q Profit Miss
Updated
Updated · Bloomberg · Aug 12
Sanrio Shares Plunge 20% After ¥22.4 Billion 1Q Profit Miss
3 articles · Updated · Bloomberg · Aug 12
Summary
Sanrio stock sank as much as 20% on Monday, its steepest intraday drop in more than 12 years after the Hello Kitty owner reported weaker-than-expected first-quarter earnings.
¥22.4 billion in 1Q operating income missed the Bloomberg consensus estimate of ¥23.4 billion, triggering the selloff.
The drop marked Sanrio's biggest share slump since 2014, underscoring how sharply investors reacted to even a modest earnings shortfall.