Hasbro Raises Annual Forecasts on Digital Gaming Demand, 'Magic' Boost
The Play-Doh maker lifted annual revenue guidance to 5% to 7% after second-quarter sales rose 16% to $1.14 billion, topping estimates.
- On Tuesday, Hasbro raised its annual revenue and profit forecasts, betting on resilient demand for its digital gaming business and continued strength in "Magic: The Gathering" despite an uncertain consumer spending environment.
- Revenue in The Wizards and Digital Gaming segment rose 27% in the quarter ended June 28, driven by momentum in its flagship "Magic" franchise.
- Breaking $500 million in the quarter, "Magic" revenue soared 32% year over year, while total second-quarter revenue rose 16% to $1.14 billion, topping analyst estimates of $1.07 billion.
- Shares of the "Dungeons & Dragons" maker jumped 10.1% as management increased full-year guidance, with annual adjusted core profit now expected between $1.45 billion and $1.50 billion.
- CEO Chris Cocks said, "With strong indications for our remaining releases and line of sight to continued growth in 2027, the Magic flywheel is firing on all cylinders.
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Hasbro (NASDAQ:HAS) Releases Earnings Results, Beats Expectations By $0.11 EPS
Hasbro (NASDAQ:HAS - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. Hasbro had a negative net margin of 4.62% and a positive return on equity of 174.64%. Hasbro's revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.30 earnings per sha…
Toy manufacturer Hasbro has once again exceeded analysts' expectations in the second quarter. The performance of the popular card game Magic: The Gathering, in particular, is contributing to the strong results. The company is therefore also raising its forecast for the full year.
Hasbro raises annual forecasts on digital gaming demand, 'Magic' boost
Hasbro raised its annual revenue and profit forecasts on Tuesday, betting on resilient demand for its digital gaming business and continued strength in "Magic: The Gathering" despite an uncertain consumer spending environment.
Hasbro raised its projections for the year after reversing a loss and registering higher revenue in the second quarter, driven by continuous force in its segment of digital games and Wizards of the Coast. Exclusive material for subscribers. To have full access, access the link of the subject and register.
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