Hasbro Sales Beat Estimates Thanks to ‘Magic’ Cards Surge

Hasbro Inc. raised its full-year outlook after a record quarter for its Magic: The Gathering card game. The company also reported revenue and earnings that beat analysts’ expectations.

Second-quarter sales were $980.8 million, beating analysts’ estimates of $880.5 million. Adjusted earnings per share were $1.30, beating projections for 77 cents. Hasbro now expects slightly higher adjusted earnings before interest, taxes, depreciation and amortization of $1.17 billion to $1.20 billion for the year. Previously, the company anticipated $1.10 billion to $1.15 billion.