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Hasbro boosts revenue forecast due to strong "Magic: The Gathering" sales, despite net loss.
Toy company Hasbro raised its annual revenue forecast due to strong sales from its "Magic: The Gathering" games and cost-saving measures.
Despite a reported net loss, Hasbro's adjusted earnings and revenue exceeded Wall Street expectations.
The company plans to reduce reliance on China for manufacturing and cut jobs in its consumer products division, which saw a 16% sales drop.
Hasbro now expects mid-single-digit revenue growth for the year.
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Hasbro aumenta las previsiones de ingresos debido a las fuertes ventas de "Magic: The Gathering", a pesar de la pérdida neta.