When it comes to gaming, an old-school approach is actually beating videogames:
As the big videogame companies struggle with changing consumer preferences, Hasbro Inc. HAS, +9.95% is riding a wave of enthusiasm for tabletop games. The company exceeded expectations for the second-straight quarter on Tuesday, citing strong performances from franchises like Magic: The Gathering, Dungeons and Dragons and Monopoly.
Though tabletop games were the high point for Hasbro, the company wants to leverage the momentum through digital tie-ins. Like the major videogame companies, it sees potential in Magic’s competitive-gaming popularity and has plans for an “expanded event schedule” of both digital and tabletop competitions that could boost player engagement and awareness. A Netflix Inc. NFLX, -1.07% series based on the Magic franchise is also in the works.
• Two of the biggest bounceback stocks of 2019, Snap Inc. SNAP, +4.81% and Chipotle Mexican Grill Inc. CMG, -0.39% , continued to show strength after earnings reports Tuesday afternoon. Snap stock jumped by double-digit percentages in late trading after its quarterly report smashed expectations for revenue and active users, while Chipotle increased its financial forecast for the year to send shares about 4% higher.
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