Hasbro has raised its annual revenue and profit forecasts, driven by resilient demand for its digital gaming business and continued strength in the ‘Magic: The Gathering’ franchise.
Digital Gaming Boost
The company’s Wizards of the Coast and Digital Gaming unit saw a 27% increase in revenue in the quarter ended June 28, compared to a 16% growth in the year-ago period.
Hasbro now expects annual revenue to grow in the range of 5% to 7%, compared with its prior forecast of 3% to 5%. The company’s second-quarter revenue rose 16% to $1.14 billion, topping analysts’ estimates of $1.07 billion.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.