Hasbro raises annual revenue forecast on strong demand for digital games, toys

By Reuters News

Oct 20 (Reuters) - Hasbro HAS.O raised annual revenue forecast on Tuesday, betting on strong demand for its digital games, including "Magic: The Gathering", ahead of the crucial holiday season.

The Play Doh maker has posted consecutive gains in its digital gaming segment over the past seven quarters, while an increase in sales of collectibles linked to Marvel, K-Pop Demon Hunters and Transformers have boosted demand for its traditional toys.

Revenue in its Wizards of the Coast and Digital Gaming segment during the third quarter rose 31%, while consumer products segment was up 4% from a year ago.

The toymaker expects fiscal 2026 revenue to grow in the range of 7% to 9% on constant currency basis, compared with its prior forecast a 5% to 7% rise.

It posted quarterly revenue of $1.60 billion, compared with analysts' average estimate of $1.48 billion, according to data compiled by LSEG.

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