On Thursday, shares of Hasbro Inc. $HAS experienced a significant surge, marking the largest increase in over five years. This surge came after the toy manufacturer reported financial results that surpassed analysts' expectations. In a climate of market uncertainty, Hasbro not only met its planned targets but also instilled confidence in its future. Hasbro reported a first-quarter revenue of $887.1 million, exceeding analysts' expectations of $769.2 million. The adjusted earnings per share stood at $1.04, which was 65 cents higher than forecasts.

Hasbro Inc. $HAS, a well-known toy manufacturer, has announced significant plans for business development in the upcoming years. According to a statement released on Thursday, the company aims to boost its sales to single-digit percentages by 2027 and save approximately $1 billion. This move is driven by changes in the market, as demand for toys has notably decreased following the pandemic surge.