Hasbro Inc. $(HAS)$, a prominent games, IP, and toy company, reported its financial results for the second quarter of 2025, revealing a 1% decrease in overall revenue. Despite the decline, growth in Wizards and Digital Gaming nearly offset the reduction in Consumer Products. MAGIC: THE GATHERING revenue notably increased by 23%, driven by the release of Final Fantasy, marking it as the biggest set release in Wizards history. The company recorded an operating loss of $798 million, which includes a $1 billion non-cash goodwill impairment. However, the adjusted operating profit was stable year-over-year at $247 million, attributed to the strength of MAGIC and a more efficient cost structure. Year-to-date, Hasbro's revenue rose by 7%, with a 28% increase in Wizards and Digital Gaming compensating for a 10% decline in Consumer Products. The year-to-date operating loss stood at $628 million, also including the $1 billion goodwill impairment, while the adjusted operating profit reached $470 million, benefiting from a favorable business mix and reduced operating expenses. Looking ahead, Hasbro has updated its full-year 2025 guidance, now expecting total revenues to rise by mid-single digits in constant currency, an increase from the previous forecast of a slight rise. The adjusted operating margin is anticipated to be between 22% and 23%, up from the previous 21% to 22%. Additionally, adjusted EBITDA is projected to be between $1.17 billion and $1.20 billion, an increase from the earlier projection of $1.1 billion to $1.15 billion. The company remains focused on investing in its core business, enhancing its balance sheet, progressing towards its leverage target, and returning cash to shareholders. The updated outlook is attributed to strong performance in the Wizards business and cost productivity initiatives, despite a challenging macroeconomic environment.