Hasbro Delivers Upside Surprise, Says New Game Plan Is Working
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Hasbro wowed Wall Street with a first quarter earnings report that beat expectations, largely due to … More the strength of its digital gaming division and the Magic: The Gathering brand. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Hasbro stock soared following a first-quarter earnings report that beat expectations. Executives also eased investors’ concerns about tariffs by outlining steps they have taken to mitigate the impact. The toy company’s stock was up more than 16% at midday, after it reported first quarter revenue was up 17% over the prior year. It reported adjusted earnings per share of $1.07, more than 50% higher than forecast by analysts. Again, Hasbro’s growth was driven primarily by the strength of its Wizards of the Coast and Digital Gaming segment. Revenue for that segment was up 46%, thanks to new releases in its Magic: The Gathering brand, and ongoing licensing revenue from the Monopoly Go! mobile game. Sales of traditional toys were down 4%, but that was significantly better than expectations. The market’s response today parallels the reaction when Hasbro reported its fourth quarter and full-year earnings results at the end of February. Then, the stock market reacted with enthusiasm to its cost-cutting and inventory control measures, sending the stock up more than 12% immediately after the earnings release. Play Puzzles & Games on Forbes Kidults Are Key Growth Drivers For Hasbro In unveiling the “Playing to Win” game plan, Hasbro said it would emphasize digital gaming, and products geared toward teen and adult consumers – the kidult category – as key growth drivers. Chris Cocks, Hasbro CEO, in a conference call with investors, said the results are evidence that the strategic plan Hasbro announced in February, called “Playing to Win” is working. The first quarter “delivered another…
Filed under: News - @ April 24, 2025 8:21 pm