Updated Version 1 - Driven by strong demand for digital games, Hasbro raises its annual revenue forecast
Additional information, details, and background have been added in paragraphs 3, 5, and 7.
Reuters, October 20 - Hasbro HAS.O raised its annual revenue forecast on Tuesday, betting that demand for its digital games (including Magic: The Gathering) will remain strong ahead of the crucial holiday shopping season.
The “Play-Doh” toy manufacturer’s digital games segment has seen consecutive growth for the past seven quarters. Rising sales of collectibles associated with Marvel, K-Pop’s The Witcher, and Transformers have also boosted demand for traditional toys.
In the third quarter, revenue from its Wizards of the Coast and digital games division increased by 31%, while its consumer products segment saw a 4% rise compared to the same period last year. The company’s stock price rose 1% in pre-market trading.
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The toy maker expects fiscal year 2026 revenue growth at constant exchange rates to be between 7% and 9%, up from its previous forecast of 5% to 7% growth.
Hasbro has benefited from its investments in digital games, product innovation in core brands, and strategic partnerships, while rival Mattel (MAT.O) faces investor pressure to better monetize its intellectual property.
According to data compiled by London Stock Exchange Group (LSEG), Hasbro’s revenue for this quarter was $1.6 billion, exceeding analysts’ average forecast of $1.48 billion.
Its quarterly adjusted operating profit rose by 52%, reaching $541 million, which includes approximately $55 million in tariff refunds.
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