BUZZ - Driven by strong demand for digital gaming, Hasbro's stock rises after raising its annual performance forecast

Latest Updates

October 20 - ** Play-Doh manufacturer Hasbro (HAS.O) saw its share price climb as much as 9.3%, reaching a near seven-year high of $107.71

** The company raised (link) its annual performance outlook, expecting revenue growth in its "Wizards of the Coast" and digital games business due to strong demand for Magic: The Gathering, which will drive growth ahead of the key holiday season

** For fiscal year 2026, revenue growth at constant exchange rates is expected to be between 7% and 9%, previously forecasted at 5% to 7%

** Annual adjusted core profit is forecast to reach $1.58 billion to $1.63 billion, previously expected at $1.45 billion to $1.50 billion

** The company expects annual revenue growth in its "Wizards of the Coast" and digital games business to be between 16% and 18%, previously projected in the low double digits

** Hasbro doubled its stock buyback target, and both quarterly revenue and adjusted earnings per share surpassed market expectations

** Peer Mattel (MAT.O) also saw its share price rise by about 2%

** As of the previous trading day's close, HAS has risen nearly 20% since the start of the year

(To assist non-native English speakers, Reuters provides automated translation of its reports into several other languages. Automated translations may contain errors or lack necessary context, and Reuters does not guarantee the accuracy of automated translation texts, which are provided solely for the convenience of readers. Reuters assumes no responsibility for any damages or losses resulting from the use of automated translation features.)