Hasbro Raises Full-Year Outlook After 16% Revenue Jump, Magic: The Gathering Surge
HAS sits 26% above its 52-week low of $69.5 on elevated volume (2.4× avg).
Summary
Hasbro delivered a standout Q2, with revenue up 16% to $1.14B, beating consensus by $70M, and adjusted EPS of $1.28 topping estimates by $0.14. The beat came despite a $25M revenue hit from a now-resolved cyber breach, with additional costs expected in future periods. Magic: The Gathering continued its tear, driving a 27% jump in the Wizards segment, while Consumer Products rose 5% on toy demand. Management raised full-year guidance: constant-currency revenue growth now seen at 5-7% (up from 3-5%) and adjusted EBITDA to $1.45-1.5B (from $1.4-1.45B). Shares rose 6.3% on the news. This follows the earlier July 21 report highlighting Magic's 34% first-half sales surge, but adds full financials, segment detail, and the guidance lift. The cyber incident is a minor overhang, but broad-based momentum across brands and audiences suggests the raised outlook is credible.
At the time of this announcement, HAS was trading at $87.72 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $12.4B. The 52-week trading range was $69.50 to $106.98. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.