Hasbro Reports Strong Preliminary Sales Driven by 'Magic: The Gathering'
Hasbro preliminary sales beat estimates, buoyed by ‘Magic’
The Boston Globe
Image: The Boston Globe
Hasbro Inc., based in Rhode Island, reported preliminary revenue of $970 million to $985 million for the first quarter, surpassing analysts' expectations of $908.6 million. The increase is attributed to strong sales from its fantasy card game, Magic: The Gathering. Full quarterly results are expected on May 20.
- 01Hasbro's preliminary revenue exceeds analysts' estimates.
- 02Sales are primarily driven by 'Magic: The Gathering'.
- 03The company is facing challenges due to a cybersecurity incident.
- 04Expected operating profit ranges from $235 million to $245 million.
- 05Full quarterly results will be released on May 20.
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Hasbro Inc. has announced preliminary revenue figures for the first quarter that range between $970 million and $985 million, exceeding analysts' expectations of $908.6 million. The surge in revenue is largely attributed to the popularity of its fantasy card game, Magic: The Gathering. However, the company is currently unable to release full quarterly results due to a recent cybersecurity attack. Hasbro anticipates an operating profit of approximately $235 million to $245 million. The full quarterly results are scheduled to be disclosed on May 20 before the market opens, providing further insights into the company's performance amidst these challenges.
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The strong revenue performance could enhance investor confidence and support Hasbro's market position, potentially influencing future product development and marketing strategies.
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