Hasbro up after raising annual forecasts on strong digital gaming demand

Hasbro

Tue 14:54

Updates
** Shares of Play-Doh maker Hasbro HAS.O up as much as 9.3% to a near seven year high of $107.71
** Co raises annual forecasts, sees higher revenue from Wizards and Digital Gaming business, as strong demand for "Magic: The Gathering" powered growth ahead of the key holiday season
** Expects fiscal 2026 revenue growth between 7% and 9% on a constant currency basis vs previous forecast of 5% to 7% rise
** Sees annual adjusted core profit of $1.58 billion to $1.63 billion, from prior $1.45 billion to $1.50 billion outlook
** Co sees annual revenue growth in Wizards and Digital Gaming segment between 16% and 18% vs previous forecast of low double-digit range
** Hasbro, which doubled its share repurchase targets,  also beat quarterly revenue and adj. EPS estimates
** Shares of peer Mattel  MAT.O also up ~2%
** Up to last close, HAS up about 20% YTD

 (Reporting by Shania S Thomas and Neil J Kanatt in Bengaluru)
 ((shanias.thomas@thomsonreuters.com))