Hasbro Beats Estimates on Strong Digital Gaming Demand
Hasbro reported first-quarter revenue of 1 billion dollars and adjusted earnings of 1.47 dollars per share, exceeding analyst expectations. Growth was driven by a 26 percent rise in the digital gaming segment and successful media partnerships despite softer demand for traditional toys.
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HASBRO INC reported first-quarter revenue of $1 billion and adjusted EPS of $1.47, exceeding analyst estimates of $964.38 million and $1.13. The results followed a delay caused by a late March cybersecurity incident that forced the company to issue preliminary disclosures in April. Strong digital gaming growth is now offsetting a slump in traditional toy sales as high living costs curb consumer spending on non-essentials.
