Hasbro topped earnings and revenue expectations for its second quarter. Magic: The Gathering And Monopoly Go! games helped drive gaming growth. Toy and entertainment sales fell and the company recorded a $1 billion charge related to the impact of tariffs. A Magic: The Gathering card is displayed on a mobile phone during a weekly tournament at the Uncommons hobby shop in New York, U.S., on Thursday, June 27, 2019. Mark Abramson | Bloomberg | Getty Images
Toy and gaming giant Hasbro topped Wall Street expectations for the second quarter as strength in its digital gaming division helped offset continued weaknesses in its traditional toy business, weighed down by the impact of tariffs.
“While tariffs represent a headwind for the business,” Hasbro’s CEO Chris Cocks said on the company’s earnings call. “We are compensating for these costs