Results
Magic: The Gathering Surpasses $600 million in Quarterly Revenue for First Time
Outlook
Raises 2026 Financial Outlook & Doubles Share Repurchase TargetGuidance raised
Management commentary
“Inspiring a lifetime of play is our superpower, and this quarter showed what it can do,” said Chris Cocks, Hasbro Chief Executive Officer.
4“We delivered a fourth consecutive quarter of double-digit revenue growth, and Magic: The Gathering topped $600 million in quarterly revenue for the first time.
Our asset-light licensing model lets great partners extend our brands while we focus on what we do best.
With a Magic lineup that keeps building, we expect a strong finish to 2026 and continued growth in 2027.”
“This quarter again showed the power of Hasbro’s brand portfolio paired with strong execution,” said Gina Goetter, Hasbro Chief Financial Officer and Chief Operating Officer.
1“Given this momentum, we are raising our 2026 outlook and doubling our share repurchase target for the year, balancing investment in the business with returning cash to shareholders.”Guidance raised
Results
Third Quarter 2026 Results
Hasbro, Inc.'s revenue increased 15% vs. LY, driven by growth in Wizards and Digital Gaming (+31%), Consumer Products (+4%), and Entertainment (+9%).
Operating profit was $517 million and Adjusted operating profit was $541 million (+52% vs. LY), reflecting topline momentum, favorable mix and cost productivity.
Results include approximately $55 million of tariff refunds.
Reported net earnings were $2.77 per diluted share and Adjusted net earnings per diluted share were $2.90.
Capital return
Returned $206 million to shareholders through the quarterly dividend and share repurchases.
Corporate events
During the quarter, the Company deployed $79 million toward debt reduction through open-market bond repurchases and U.S. Treasury purchases to prefund the 2026 and 2027 bond maturities.
Results
Third Quarter 2026 Segment Details
Wizards and Digital Gaming Segment
Revenue increased 31%, led by Magic: The Gathering (+34%).
Digital and licensed gaming grew 3%.
Magic: The Gathering growth fueled by The Hobbit and Reality Fracture .
Monopoly Go! contributed $41 million of revenue in the third quarter.
Operating profit of $ 367 million (+46% vs. LY), with a 49% operating margin, includes a $7 million benefit from tariff refunds.
Consumer Products Segment
7Revenues were up 4% in the quarter, led by Marvel , KPop Demon Hunters and Transformers .
Management commentary
Q3 sales benefited from entertainment releases, including Spider-Man: Brand New Day , and continued momentum in GEM 2 categories.
Results
Operating profit of $174 million and Adjusted operating profit of $178 million (+100% vs. LY) driven by productivity initiatives.
Operating profit and adjusted operating profit include a $48 million benefit from tariff refunds.
Entertainment Segment
3Revenue increased 9%, driven by growth in Family Brands.
8Operating profit of $17 million and Adjusted operating profit of $18 million up 63% due to favorable licensing mix.
Year-to-Date 2026 Results
Year-to-date Hasbro, Inc. revenue increased 15% vs. LY, driven by growth in Wizards and Digital Gaming (+28%) and Consumer Products (+3%), partially offset by a decline in Entertainment (-13%).
Operating profit was $1,040 million and Adjusted operating profit was $1,110 million (+35% vs. LY), reflecting a strong topline.
Both figures include a $56 million impairment related to digital games, nearly offset by a $55 million benefit from tariff refunds.
Reported net earnings were $5.27 per diluted share and Adjusted net earnings per diluted share were $5.65.
Capital return
Returned $445 million to shareholders through the quarterly dividend and share repurchases.
Corporate events
During the first nine months, the Company deployed $226 million toward debt reduction through open-market bond repurchases and U.S. Treasury purchases to prefund the 2026 and 2027 maturities.
Results
Year-to-Date 2026 Segment Details
Wizards and Digital Gaming Segment
Revenue increased 28%, led by Magic: The Gathering (+34%).
Digital and licensed gaming grew 7%.
Magic: The Gathering benefited from growth in tabletop and digital revenues, across first-party and Universes Beyond sets.
Year-to-date Monopoly Go! contributed $127 million of revenue.
Operating profit of $935 m illion (+29% vs. LY), with a 47% operating margin, which includes a $56 million impairment related to the Company’s refocused digital games portfolio.
Consumer Products Segment
Revenues increased 3% as Marvel, Star Wars, Beyblade, and KPop Demon Hunters more than offset disruptions from the previously disclosed unauthorized network access.
6Operating profit o f $112 million and Adjusted operating profit of $130 million (+119% vs. LY) driven by productivity improvements.
Entertainment Segment
Revenue decline of 13% related to the nature and timing of deals.
5Operating profit of $40 million and Adjusted operating profit o f $47 million (+22% vs. LY) primarily due to lower program amortization.
Outlook
2026 Company Outlook and Capital Allocation
For the full year, the Company now expects:
2Total Hasbro revenue up 7-9% in constant currency (previously up 5-7% in constant currency)Guidance raised
Adjusted operating margin of 27-28% (previously 25-26%)Guidance raised
Adjusted EBITDA of $1.575 billion to $1.625 billion (previously $1.45 billion to $1.50 billion)Guidance raised
2026 Capital Allocation priorities:
Management commentary
Invest in core business.
Capital return
Return cash to shareholders through dividends and share repurchases.
Management commentary
Continue to pay down debt.
Capital return
Dividend Announcement
During the third quarter, the Company paid $99 million in cash dividends to shareholders.
The Board of Directors has declared a quarterly cash dividend of $0.70 per common share payable on December 2, 2026, to shareholders of record at the close of business on November 18, 2026.
71 boilerplate lines (safe-harbor disclaimer, contacts, call details) are set aside.