Hasbro shares pass go after it beat Wall Street expectations and slashed costs
Hasbro shares jumped more than 11% after the company reported earnings Thursday, making the toy maker the top gainer in the S&P 500.
Piquing investor interest: a revenue beat and a plan to deliver $1 billion in cost savings through 2027 while investing more in its biggest brands, like Play-Doh and “Magic: The Gathering.”
Speaking of “Magic,” the tabletop strategy game’s sales ticked slightly down on the year but still pulled in over $1 billion in 2024, accounting for more than half of Hasbro’s total gaming revenue.
Hasbro’s digital and licensed gaming segment grew 22% in 2024, with the massive mobile game “Monopoly Go!” contributing $112 million.
The “Dungeons & Dragons” parent said sales should grow by the mid-single digits in the current year, accounting for tariffs on goods from China, Canada, and Mexico. Earlier this month, rival Mattel said it may hike the prices of Barbie and Hot Wheels toys to offset the impact of tariffs. About 40% of both Hasbro and Mattel toys are made in China.
