Hasbro raises annual revenue forecast on strong demand for digital games
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Oct 20 : Hasbro raised annual revenue forecast on Tuesday, betting on strong demand for its digital games, including "Magic: The Gathering", ahead of the crucial holiday season.
The Play-Doh maker has posted consecutive gains in its digital gaming segment over the past seven quarters, while an increase in sales of collectibles linked to Marvel, K-Pop Demon Hunters and Transformers have boosted demand for traditional toys.
Revenue in its Wizards of the Coast and Digital Gaming segment rose 31 per cent during the third quarter, while consumer products segment was up 4 per cent from a year ago. The company's shares were up 1 per cent in premarket trading.
The toymaker expects fiscal 2026 revenue to grow in the range of 7 per cent to 9 per cent on constant currency basis, compared with its prior forecast a 5 per cent to 7 per cent rise.
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Hasbro has benefited from its investments in digital gaming, product innovation in key franchises and strategic partnerships, while rival Mattel has come under investor pressure to better monetize its intellectual property.
Quarterly revenue of Hasbro stood at $1.60 billion, compared with analysts' average estimate of $1.48 billion, according to data compiled by LSEG.
Its quarterly adjusted operating profit was up 52 per cent at $541 million, including about $55 million of tariff refunds.
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