On July 21, Hasbro rose 7.81% in regular trading, trading at $91.17/share with turnover of $239 million, marking its largest single-day gain since April of last year.

The surge was driven by Hasbro's Q2 fiscal results significantly exceeding expectations and an upward revision to full-year guidance. The company reported adjusted EPS of $1.28, beating the consensus estimate of $1.14 by over 12%. Net revenue came in at $1.14 billion, up 16% year-over-year and well above the $1.07 billion analyst forecast. The Wizards of the Coast and Digital Gaming segment delivered 27% revenue growth, fueled by sustained strong demand for Magic: The Gathering.

Critically, Hasbro raised its fiscal full-year constant currency revenue growth outlook to 5%-7%, up from prior guidance of 3%-5%. This addressed a key investor concern, as the company had previously drawn sharp criticism for maintaining unchanged guidance despite a strong Q1 beat in May, which triggered a 7.5% selloff at the time. CEO Chris Cocks stated that Magic's growth flywheel is operating at full speed, expressing confidence in the product pipeline ahead. The quarter also included a $56 million impairment charge related to its digital gaming portfolio refocusing for 2028 and beyond, as well as an estimated $11 million revenue impact from a March cybersecurity breach.

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