Hasbro: 2nd quarter 2024 financial results
Hasbro's shares have risen sharply after the company exceeded expectations in the second quarter of 2024 and revised its full-year forecast upwards. A key driver of this success was the excellent performance in digital games, particularly with the title "Monopoly Go!". The company has raised its forecast for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the year to a range between USD 975 million and USD 1.03 billion. Previously, the expected range was USD 925 million to USD 1 billion. This positive development underscores Hasbro's ability to compete in an increasingly digital marketplace and successfully respond to changing consumer preferences.
Comments from the company
"We delivered a solid performance in games and digital licensing and substantial margin improvement this quarter,” said Chris Cocks, Hasbro Chief Executive Officer. “Hasbro is emerging as a more profitable, agile, and operationally excellent company delighting fans of all ages through the magic of play."
"We continued to make meaningful progress in our turnaround for Consumer Products in the second quarter," said Gina Goetter, Hasbro Chief Financial Officer. “The Hasbro team remains focused on back half execution and delivering on our updated full year commitments.”