Hasbro’s Q1 adjusted EPS of $1.47 beats estimates as Magic: The Gathering revenue jumps 36% to $469.6 million.
Hasbro posted first-quarter net earnings of $198.4 million, more than doubling from $98.6 million a year earlier, as revenue climbed 13% to $1,000.2 million. The company surpassed analyst expectations for adjusted earnings per share of $1.47 and revenue of $964.38 million.
The gains were led by Hasbro’s Wizards of the Coast and Digital Gaming segment, where revenue rose 26% to $582.0 million. Magic: The Gathering sales surged 36% year-over-year to $469.6 million, driven by new releases and ongoing demand for older sets. Operating profit for the segment reached $297.7 million, reflecting a 51.2% margin.
Consumer Products revenue remained flat at $397.9 million, while the segment reported an operating loss of $47.5 million, wider than the prior-year loss of $43.9 million.