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Hasbro raises its 2026 outlook as Magic quarterly revenue tops $600 million
Revenue rose 15% to $1.60 billion, while Magic: The Gathering grew 34% and the company doubled its 2026 share-repurchase target to about $400 million.
Hasbro raised its full-year 2026 outlook after quarterly revenue increased 15% and Magic: The Gathering generated more than $600 million in a quarter for the first time. Company revenue reached $1.60 billion, above the $1.48 billion analyst average reported by Reuters.
The quarter was not driven by a single accounting line. Wizards and Digital Gaming revenue grew 31%, Consumer Products rose 4% and Entertainment increased 9%. Still, about $55 million of tariff refunds benefited the reported results, so the underlying mix deserves a careful read.
Magic crossed a new quarterly threshold
Magic: The Gathering revenue exceeded $600 million for the first time and rose 34% from a year earlier. Hasbro attributed the increase to The Hobbit and Reality Fracture sets. Tabletop gaming revenue within Wizards and Digital Gaming reached $613.1 million, while digital and licensed gaming contributed $134.1 million.
Growth extended beyond tabletop cards
Wizards and Digital Gaming revenue increased 31% and its operating profit rose 46% to $367 million. Consumer Products revenue grew 4%, led by Marvel, KPop Demon Hunters and Transformers, while Entertainment revenue increased 9% on growth in Family Brands.
Profit beat expectations, with a refund caveat
Adjusted earnings were $2.90 per share, above the $1.86 average estimate cited by Reuters. Hasbro reported $517 million of operating profit and $541 million of adjusted operating profit, but said the quarter included about $55 million of tariff refunds.
Management raised several 2026 targets
Hasbro now expects constant-currency revenue growth of 7% to 9%, up from 5% to 7%. It raised its adjusted operating-margin range to 27%–28% from 25%–26%, increased adjusted EBITDA guidance to $1.575 billion–$1.625 billion, and expects Wizards and Digital Gaming revenue to grow 16%–18%.
Capital returns increased, but the forecast is not guaranteed
The company doubled its 2026 share-repurchase target to about $400 million and said it returned $206 million to shareholders during the quarter through dividends and buybacks. The raised outlook remains a company forecast: holiday demand, product releases, consumer spending, tariffs and supply-chain execution can still change the final result.
