Investing.com -- Hasbro delivered better-than-expected first-quarter results, with earnings and revenue both comfortably ahead of analyst forecasts, driven by a strong performance in its Wizards of the Coast and digital gaming division.

Adjusted earnings per share came in at $1.47, well above the consensus estimate of $0.99. Revenue of $1 billion rose 13% year-on-year and exceeded expectations of $910.9 million.

Adjusted operating profit surged 29% to $287 million on the back of a stronger topline and favourable product mix.

Hasbro shares climbed 0.8% in premarket trading by 06:42 ET.

The Wizards and Digital Gaming segment led the way with 26% revenue growth, while Consumer Products was broadly flat. Entertainment was the weak spot, declining 24% in the quarter.

“The first quarter was a strong start to the year and reflects tailwinds from our Playing to Win strategy,” said Hasbro CEO Chris Cocks.

“Wizards continues to break records, supported by MAGIC: THE GATHERING’s flywheel of player growth and expanded distribution. In Consumer Products, we delivered another quarter of growth in our toy and game business, and remain on track to grow the entire segment for the full year 2026," he added.

Hasbro deployed $96 million toward debt reduction during the quarter and issued $400 million of new notes, the proceeds of which will be used to fully repay its November 2026 debt maturities, with the remainder applied to repurchasing higher-rate, longer-dated securities.

Full-year guidance was left unchanged. The company continues to expect total revenue growth of 3-5% in constant currency, an adjusted operating margin of 24-25% and adjusted EBITDA of $1.40-1.45 billion.