$HAS · HASBRO, INC.
Hasbro reported Q3 2026 results with revenue up 15% YoY to $1.595B, driven by Wizards and Digital Gaming (+31%). Magic: The Gathering surpassed $600M in quarterly revenue for the first time (+34%). Adjusted operating profit rose 52% to $541M, and adjusted diluted EPS reached $2.90. The company raised its full-year 2026 outlook to 7-9% constant-currency revenue growth and 27-28% adjusted operating margin, while doubling its share repurchase target.
- Q3 revenue rose 15% YoY to $1.595B, fourth consecutive quarter of double-digit growth.
- Magic: The Gathering revenue surged 34%, surpassing $600M in a single quarter for the first time.
- Adjusted operating profit jumped 52% YoY to $541M; adjusted diluted EPS hit $2.90.
- Full-year revenue guidance raised to 7-9% constant-currency growth (from 5-7%); adjusted operating margin now 27-28%.
- Share repurchase target doubled for 2026; $149.3M in buybacks executed year-to-date.
Extended-hours trading shows HAS at $98.97, up 0.49% from the regular close of $98.49, reflecting modestly positive initial reaction to the guidance raise and buyback doubling. Full regular-session reaction pending.
Magic: The Gathering's $600M quarter signals a franchise hitting escape velocity, transforming Hasbro from a traditional toy company into an IP-driven gaming powerhouse.
Hasbro's asset-light licensing model and Magic: The Gathering's explosive growth contrast with traditional toy peers struggling for growth. Monopoly Go! contributed $41M in Q3 and $127M YTD, demonstrating the digital licensing flywheel.
Tariff refunds contributed $55M to Q3 results; forward-looking risks include tariff re-imposition, Magic: The Gathering concentration risk, and the $56M digital games impairment taken year-to-date. The unauthorized network access disruption remains an ongoing risk factor.
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