The Hasbro board game will be available in Target stores in Austin, Texas on December 12, 2023.
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toy company Hasbro On Thursday, second-quarter results beat Wall Street expectations, in part due to growth in its digital gaming segment.
The company’s shares rose more than 4% in early 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 quarter last year, when Hasbro 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 unit due to the divestment of production studio eOne.
Hasbro attributed the revenue growth from Wizards of the Coast and digital games to the launch of the MAGIC card game Modern Horizons 3, as well as the Monopoly Go! license and the continued impact of digital games! 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 products revenue expected to decline 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.
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