Hasbro Inc. (NASDAQ: HAS) reported third-quarter results that exceeded expectations, led by record performance from its Magic: The Gathering franchise.
The toy and entertainment company posted adjusted earnings of $1.68 per share, beating the consensus estimate of $1.63. Revenue climbed 8% year-over-year to $1.39 billion, surpassing expectations of $1.35 billion.
Hasbro’s Wizards of the Coast segment — home to its tabletop and digital gaming businesses — led growth with a 42% revenue increase, powered by a 55% jump in Magic: The Gathering sales. The surge was driven by new releases including Edge of Eternities and Marvel’s Spider-Man, along with sustained strength in existing product lines.
The Consumer Products division reported a 7% revenue decline due to timing of U.S. retailer orders linked to later holiday resets. Still, the company noted improving momentum across key brands heading into the holiday season.
Operating profit increased 13% to $341 million, reflecting cost control and record gaming revenue. The Wizards of the Coast division achieved a 44% operating margin, underscoring its high profitability.
Hasbro raised its full-year outlook, now forecasting high-single-digit revenue growth in constant currency and an adjusted operating margin between 22% and 23%.
