Hasbro kicked off the Q2 financial season for toycos today, reporting that revenue was down slightly from the same period last year amid tariff uncertainty, but the company remains focused on implementing cost savings and positioning itself for the upcoming holiday season.

Q2 revenue: US$981 million

Year-over-year change: Down 1% from US$995.3 million in Q2 2024 

Six-month checkup: Year-to-date revenue is up 7% from the same period last year, totalling US$1.86 billion

CEO’s outlook: “Hasbro’s return to growth in the first half of 2025 is clear validation that our Playing to Win strategy is working,” says Chris Cocks. “With this momentum, we’re increasing our full-year outlook and positioning Hasbro for sustained growth in 2025 and beyond.”

Updated guidance: Hasbro expects to achieve 4% to 5% growth by the end of the year, as well as roughly US$1 billion in cost savings. 

Gaming is still king: Hasbro’s Wizards of the Coast and Digital Gaming segment revenue has grown by 16% since Q2 2024, driven by sales of Final Fantasy-branded Magic: The Gathering trading cards and Monopoly GO! microtransactions. 

Tariff threats affect toy sales: Consumer products revenue declined by 16% in Q2 to US$442 million, thanks to a lengthy pause in retail orders driven by marketplace conditions and looming tariffs. 

Supply and demand: Hasbro restarted production and shipments from China in May, and it’s currently holding US$417 million (up 17%) of inventory in its warehouses for product launches later this year. 

Sales growth: Monopoly, Transformers, Marvel, Beyblade, Play-Doh

Sales declines: Board games, NERF, Furby, Star Wars, Peppa Pig 

Key brand announcements: The toyco built a lot of hype in Q2 with its announcement that Peppa Pig’s family was expecting a new baby sister, with bespoke products on the way. And in brand crossover news, Play-Doh is joining forces with Barbie; and Magic: The Gathering will roll out new booster packs in November featuring Nickelodeon’s Avatar: The Last Airbender franchise.