By Dean Seal
Hasbro recorded first-quarter earnings and sales gains that sailed past analyst expectations and the toymaker said its shift toward higher-margin businesses was offsetting tariff pressures.
Pawtucket, R.I.-based Hasbro said Thursday that the global tariff war hadn't impacted first-quarter results, adding that the company wouldn't touch the guidance it gave in February given the level of uncertainty in the trade environment.
Hasbro also announced it has extended its long-running relationship with Disney to make toys for the popular Star Wars and Marvel brands.
Shares jumped 7.8% to $56.80 in premarket trading.
For the first three months of the year, Hasbro posted a profit of $98.6 million, or 70 cents a share, compared with $58.2 million, or 42 cents a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were $1.04 a share, blowing past analyst projections for 67 cents a share, according to FactSet.
Revenue rose 17% to $887.1 million, topping analyst estimates by $116 million, according to FactSet.
Sales in Hasbro's consumer-products business were down 4%, but up 46% for its Wizards of the Coast and digital-gaming segment, driven by strong growth in the Magic: The Gathering and Dungeons & Dragons brands.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 24, 2025 07:05 ET (11:05 GMT)
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