The phrase often implies disappointment or damage to a reputation or status. The company's stock took a hit after the CEO resigned.
Pro Tip 2/3
Business Context
Commonly used to describe financial or market losses in a business setting. After the data breach, the business took a huge hit.
Pro Tip 3/3
Media Usage
Frequently appears in news or analysis to explain the impact of an event on performance or success. The film's box office earnings took a hit due to negative reviews.