The toymaker raised revenue and profit forecasts after second-quarter sales jumped 16% to $1.14 billion.
Hasbro increased its annual revenue and profit forecasts, citing robust demand for its digital gaming segment and the “Magic: The Gathering” franchise. The company now expects revenue growth of 5% to 7%, up from 3% to 5%, and adjusted core profit between $1.45 billion and $1.50 billion, revised from $1.40 billion to $1.45 billion.
Second-quarter revenue rose 16% to $1.14 billion, surpassing analysts’ estimates of $1.07 billion. The Wizards of the Coast and Digital Gaming unit saw revenue climb 27%, accelerating from 16% growth in the same period last year. Higher-income consumer spending offset weaker demand among lower-income households.
CEO Chris Cocks noted strong momentum for upcoming releases and growth prospects into 2027, describing the “Magic” franchise as performing exceptionally well.