The Hasbro board game will be available in Target stores in Austin, Texas on December 12, 2023.
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toy company Hasbro Second-quarter results on Thursday beat Wall Street expectations, in part due to growth in its digital gaming segment.
The company’s shares rose more than 3% in afternoon trading.
Here are Hasbro’s Quarter ended June 30 Compared with Wall Street expectations, according to a survey of analysts by London Stock Exchange Group (LSEG):
- Earnings per share: Adjusted $1.22, expected 78 cents
- income: $995 million vs. $944 million expected
Hasbro reported net income for the quarter of $138.5 million, or 99 cents per share. That’s a significant increase from the same period last year, when the company reported a net loss of $235 million, or $1.69 per share.
Although Hasbro’s overall revenue fell 18% this quarter, its Wizards of the Coast and digital games division’s revenue grew 20%. This was partially offset by a 20% decline in consumer products revenue and a 90% decline in the company’s entertainment segment. Spin-off production studio eOne.
Hasbro attributed the revenue growth from Wizards of the Coast and digital games to the launch of Magic: The Gathering card game Modern Horizons 3 and the continued impact of licensed and digital games Monopoly Go! Leading the way with Baldur’s Gate 3.
執行長克里斯·考克斯(Chris Cocks)在公司財報電話會議上表示，該公司將繼續投資其數位遊戲產品組合，並強調了最近任命約翰·海特(John Hight)為威世智和數位遊戲President.
“Between the changes in our board of directors and the talent we’ve brought in (most recently with John) … we’re going full steam ahead to become a digital gaming company,” Cox said.
Hasbro expects full-year revenue to decline further, with consumer product revenue expected to fall 7% to 11%, while Wizards of the Coast revenue is expected to decline 1% to 3%.
The company expects full-year adjusted EBITDA to total between $975 million and $1.025 billion. Hasbro also expects to cut costs by $750 million by the end of 2025.
