Hasbro Raises Full-Year Outlook and Doubles Share Buyback Target After Magic: The Gathering Tops $600 Million in a Quarter

Hasbro reported third-quarter 2026 net earnings of $394.5 million, or $2.77 per diluted share, up sharply from $233.2 million, or $1.64 per share, a year earlier, beating profit expectations and prompting the toy and games maker to raise its full-year financial outlook. Total revenue rose 15% year over year, driven by a 31% surge in the Wizards of the Coast and Digital Gaming segment, a 4% gain in Consumer Products led by Marvel, KPop Demon Hunters, and Transformers, and a 9% rise in Entertainment.

Magic: The Gathering surpassed $600 million in quarterly revenue for the first time, with growth of 34% fueled by The Hobbit and Reality Fracture releases. Monopoly Go contributed an additional $41 million in segment revenue during the quarter. It marked the fourth consecutive quarter of double-digit revenue growth for the company. Adjusted net earnings per diluted share came in at $2.90, and adjusted operating profit rose 52% to $541 million, with an adjusted operating margin expanding to 49% in the Wizards segment. Results also included approximately $55 million in tariff refunds.

For the full year, Hasbro now expects total revenue growth of 5% to 7% in constant currency, up from its prior forecast of 3% to 5%. Adjusted operating margin guidance was lifted to 25%-26% from 24%-25%, and adjusted EBITDA is now seen in a range of $1.45 billion to $1.50 billion, versus a prior range of $1.40 billion to $1.45 billion. Alongside the raised outlook, the company said it is doubling its share repurchase target for the year. Hasbro returned $206 million to shareholders through dividends and buybacks during the quarter and deployed $79 million toward debt reduction.