Hasbro, wrestling with the demise of Toys ‘R’ Us and elusive shoppers spending a lot more on high-tech gadgets, fell well short of third-quarter expectations Monday.

The Pawtucket, RI, toymaker will absorb charges of as much as $60 million next quarter as it cuts jobs.

Mattel, Hasbro’s rival, said in July that it would cut more than 2,200 jobs. Both toymakers have acknowledged they’ve been hurt this year by the shuttering of Toys ‘R’ Us stores, the largest independent toy seller in the world.

“The lost Toys ‘R’ Us revenues are impacting many markets around the world, notably the US, Europe, Australia and Asia,” said chairman and CEO Brian Goldner. “The volume of product liquidated in the second quarter had a near-term impact on the third quarter sell-through and shipments. We are successfully managing retail inventory and it is down significantly in the US and in Europe, where we are aggressively working to clear excess inventory by year end.”

In the most recent quarter, revenue dropped 12 percent partly because of lost sales of its products at Toys ‘R’ Us stores in the US, Europe and the Asia Pacific region.

Hasbro’s third-quarter earnings slipped to $263.9 million, or $2.06 per share. Adjusted for pretax gains, per-share earnings were $1.93, far below Wall Street projections for per-share earnings of $2.24, according to a survey by Zacks Investment Research.

Revenue of $1.57 billion also missed analyst expectations for $1.71 billion. Hasbro experienced a 24 percent drop in international revenue, with Europe falling 29 percent, Latin America slipping 16 percent and the Asia Pacific region declining 14 percent.

Shares were down 6 percent in early trading Monday.

Tablets and smartphones have become the most desired toys in many households, and that is taking a toll on the sale of more traditional playthings.