(News Bulletin 247) – Hasbro published overall better than expected quarterly results on Thursday, mainly due to solid demand for its role-playing games

At 17.9 million dollars, the operating profit of the American group fell by 85% in the first quarter, mainly due to its efforts in terms of destocking.

Adjusted net income was just $1 million, or one cent per share, compared to $79.4 million, or 57 cents per share, over the same period last year.

This figure is fully in line with market expectations.

The turnover contracted by 14% to a billion dollars, but this decline is almost half that predicted by analysts, who anticipated sales of 878 million dollars.

The group, which highlights the 16% jump in sales of its ‘Magic: The Gathering’ franchise thanks to the ‘Tous Phyrexians’ extension – confirmed its forecasts for 2023, namely a drop in turnover of 0% to 5% for adjusted operating income (EBITDA) broadly stable compared to 2022.

Following these announcements, the action of the number two American toy gained more than 4% Thursday in pre-market trading on Wall Street.

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