Hasbro's Blockbuster Quarter Was Driven by Avengers and Magic
Hasbro (NASDAQ: HAS) romped all over second-quarter earnings expectations, delivering sales and profits well ahead of analyst forecasts. Driven by the megablockbuster Avengers: Endgame movie and the toymaker's new digital game Magic: The Gathering, Hasbro posted results that are bad only in the sense that it's given itself a very high hurdle to get over next year.
Magic: The Gathering still has a lot of power to enthrall players, whether it's the physical game or the new digital version. Image source: Wizards of the Coast.
Revenue jumped 9% to $985 million in the period, easily surpassing the 6% gain Wall Street forecast, and when you back out foreign currency exchange rates, sales were actually 11% higher.
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