Hasbro raises annual forecasts on digital gaming demand, 'Magic' boost
HAS•New releases and second-half outlook
Hasbro launched the "Secrets of Strixhaven" series in April and its "Marvel Super Heroes" title last month, and expects to release its Star Trek-themed set in November.
"The second half of the year is a little bit of a wild card," James Zahn, editor-in-chief of Toy Book magazine, said, adding that Magic's release schedule is heavier than last year's.
The Play-Doh maker now expects annual revenue to grow in the range of 5% to 7%, compared with its prior forecast of 3% to 5%. Analysts expected growth of 6.3%, according to data compiled by LSEG.
Some analysts, however, called the forecast conservative.
Hasbro's finance chief Gina Goetter said the forecast primarily accounts for the strong growth in the first half of the year, and that uncertainty around the crucial holiday season exists.
"A lot can change between September and December. So it (forecast) just allows us a little bit of protection."
