Hasbro beats second-quarter estimates, goes ‘all in' on digital gaming segment

Toy company Hasbro exceeded Wall Street expectations for Q2, with strong performance in its digital gaming segment. Hasbro reported a net income of $138.5 million, a significant improvement from a net loss of $234.9 million in the same quarter last year. The company’s digital gaming division, including Wizards of the Coast, saw a revenue increase of 20%, offsetting declines in other sectors. CEO Chris Cocks emphasized Hasbro’s commitment to digital gaming, projecting further revenue declines for the year but aiming for cost savings of $750 million by 2025.