Hasbro’s Magic the Gathering and Monopoly Go! Drive Profits Higher

  • Hasbro’s second-quarter profit beats Wall Street estimate
  • Digital gaming business drives growth
  • Stock up nearly 9% in premarket trading
  • Revenue in digital gaming unit rises 20% to $452 million

Hasbro Inc.’s stock surged nearly 9% in premarket trading after the toy maker reported a better-than-expected second-quarter profit, driven by strong performance in its digital gaming business. The company posted a profit of $138.5 million or 99 cents a share, compared to a loss of $235 million or $1.69 a share in the same quarter last year. Hasbro’s adjusted profit of $1.22 a share exceeded the FactSet consensus estimate of 78 cents a share. Although revenue dropped to $995.3 million from $1.21 billion in the previous year, it surpassed analyst estimates of $941.4 million. The digital gaming unit’s sales rose by 20% to $452 million due to the launch of its Magic: The Gathering’s Modern Horizons 3 set and Monopoly Go! game, while sales in the consumer products business declined by 20%.

Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about Hasbro’s financial performance, including specific numbers and comparisons to analyst estimates. It also highlights the reasons for the increase in stock price (digital gaming business) and mentions the company’s overall performance compared to the S&P 500.
Noise Level: 3
Noise Justification: The article provides relevant information about Hasbro’s financial performance and specific details on its digital gaming business growth. It also compares the stock’s performance to the S&P 500 index. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Public Companies: Hasbro Inc. (HAS), S&P 500 (SPX)
Key People:

Track all markets on TradingView

Financial Relevance: Yes
Financial Markets Impacted: Hasbro’s stock price
Financial Rating Justification: The article discusses Hasbro Inc.’s financial performance, specifically its second-quarter profit and revenue, which impacted the company’s stock price in premarket trading. This is relevant to financial topics as it pertains to a company’s financial results and its effect on the stock market.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the article. It discusses Hasbro Inc.’s financial performance and stock market movements.

Reported publicly: www.marketwatch.com www.barrons.com