Hasbro laid out a $1 billion cost-savings plan on Thursday as the U.S. toymaker navigates subdued demand for its products, sending its shares up about 11% despite a lackluster annual revenue forecast.

The toymaker plans to focus on digital gaming, products for consumers ages 13 and up, and licensing and retail partnerships to drive growth.

Bumble forecast its first-quarter revenue below analysts' estimate on Tuesday, signaling that the dating app operator's efforts to boost growth are taking longer than expected, sending its shares down 16% in extended trading.