孩之宝盘前涨超3%,二季度营收、每股收益均超预期,调整全年指引

老虎资讯综合
Jul 23, 2025

7月23日(周三),孩之宝盘前涨超3%,二季度营收、每股收益均超预期,调整全年指引。

消息方面:孩之宝发布Q2财报,整体收入同比下降1%至9.81亿美元,预估8.805亿美元。主要由Wizards of the Coast与数字游戏部门收入同比增长16%(达5.22亿美元)所支撑,其中《魔法风云会》收入因《最终幻想》联名创纪录推动同比大增23%,而消费品部门收入同比下降16%(主要受玩具需求疲软及区域波动拖累)。尽管报告净亏损6.10美元/股(主因消费品部门10亿美元非现金商誉减值),调整后净利润同比改善0.08美元至1.30美元/股,反映核心业务盈利韧性。

分部门看:

  • Wizards部门:营业利润同比下降2%至2.42亿美元,利润率降至46.3%(主因版权费上升),但《Monopoly Go!》贡献4400万美元收入;

  • 消费品部门:调整后营业利润120万美元(同比扭亏),成本效率抵消销量下滑;

  • 娱乐部门:调整后营业利润1010万美元,同比降幅收窄。

上半年累计收入同比增长7%,调整后净利润同比上升0.52美元至2.35美元/股。公司上调全年指引:收入增长预期从"小幅增长"调至"中个位数增长",调整后EBITDA目标从11-11.5亿美元升至11.7-12亿美元,反映Wizards业务持续动能。资本分配方面,二季度通过股息向股东返还9800万美元,并减少债务1200万美元,资产负债表现金储备5.47亿美元,但股东权益因商誉减值同比显著下降。

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