Hasbro Q1 Revenue Hits $1 Billion as Digital Gaming Sales Surge 26%
HAS•Hasbro reported first-quarter revenue of $1 billion and adjusted EPS of $1.47, exceeding estimates of $964.38 million and $1.13. Its Wizards of the Coast and Digital Gaming segment revenue rose 26% year-over-year, while the company recorded $8.3 million in U.S. import tariff costs and maintained its full-year outlook.
1. First-Quarter Financial Results
Hasbro generated $1 billion in Q1 revenue, surpassing analyst estimates of $964.38 million, and delivered adjusted earnings per share of $1.47 versus expectations of $1.13. The company reaffirmed its full-year forecast issued in February.
2. Digital Gaming Segment Growth
Revenue in the Wizards of the Coast and Digital Gaming segment climbed 26% year-over-year, driven by strong demand for Magic: The Gathering and partnerships with streaming content like the Netflix-backed K-Pop Demon Hunters franchise.
3. Cost Impacts and Initiatives
Hasbro incurred $8.3 million in U.S. import tariff costs and is evaluating avenues for refunds following recent trade rulings. Management cited ongoing cost-saving initiatives as a key contributor to the beat on earnings.
