Hasbro lifted its 2026 outlook after Magic: The Gathering produced its first quarter above $600 million in revenue. The tabletop franchise helped drive faster growth and wider profitability across the company.

The October 20 results release reported higher sales in every segment. Management also doubled its planned 2026 share repurchases after returning $206 million to shareholders during the quarter.

Hasbro earnings shift toward Magic

Wizards of the Coast and Digital Gaming delivered the quarter’s largest increase, with Magic revenue rising 34%. Monopoly Go! contributed $41 million, while the segment’s operating profit advanced 46% to $367 million.

Consumer Products revenue grew 4%, and Entertainment increased 9%. The result adds a brand-led comparison to the pricing and volume questions in our P&G earnings preview.

Hasbro Q3 segment revenue growth — year over year

Wizards of the Coast and Digital Gaming: 31%
 

Entertainment: 9%
 

Consumer Products: 4%
 

Source: Hasbro Q3 2026 earnings release. Bars are scaled to the highest reported growth rate.

Hasbro earnings raise 2026 outlook

Hasbro reported $517 million of operating profit and $541 million on an adjusted basis. Adjusted operating profit rose 52%, while Consumer Products adjusted operating profit doubled to $178 million.

The company now expects constant-currency revenue growth of 7%–9%, up from 5%–7%. Its adjusted operating-margin target increased to 27%–28%, a measure explained in our operating margin guide.

What investors should watch

Hasbro raised its adjusted EBITDA range to $1.575 billion–$1.625 billion. It also repaid $79 million of debt and plans $200 million of 2026 share repurchases, twice its previous target.

Investors still need to separate repeatable franchise demand from one-time support, including tariff refunds. Working-capital discipline also matters as product mix changes, making our cash conversion cycle explainer a useful companion.

Sharron Kendi is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence.