Hasbro Q3 revenue beats on Magic: The Gathering strength; lifts 2026 outlook
HAS•Hasbro’s third-quarter revenue rose 15% year over year to $1.6 billion, beating the $1.48 billion consensus, while Magic: The Gathering revenue climbed 34% to $616 million. The company raised its 2026 outlook and doubled its share repurchase target for the year.
1. Quarterly results
Hasbro reported third-quarter revenue of $1.6 billion, up 15% year over year and above analyst expectations of $1.48 billion. Net income was $395 million.
2. Raised 2026 outlook
Hasbro raised its 2026 revenue growth outlook to 7%-9% in constant currency, from 5%-7%, and its adjusted operating margin forecast to 27%-28%, from 25%-26%. It increased adjusted EBITDA guidance to $1.575 billion-$1.625 billion, from $1.45 billion-$1.50 billion, and doubled its share repurchase target for the year.
3. Magic leads growth
Magic: The Gathering revenue rose 34% to $616 million, topping $600 million for the first time, driven by The Hobbit and Reality Fracture releases. Wizards and Digital Gaming segment revenue increased 31%, while Consumer Products revenue rose 4%.
