Hasbro announced on Tuesday (July 21) its financial results for the second quarter of 2026, highlighted by a record performance from Wizards of the Coast, the division behind Magic: The Gathering and Dungeons & Dragons. The company's total revenue grew 16% compared to the same period last year, driven by the Wizards and Digital Gaming segment, which rose 27%.Magic: The Gathering revenue reached $545.3 million in the quarter, a 32% year-over-year increase, fueled by the releases of Secrets of Strixhaven and Marvel Super Heroes. Hasbro CEO Chris Cocks emphasized that the card game surpassed the $500 million quarterly revenue mark for the first time in its 30-plus-year history. "With strong indications for our remaining releases and line of sight to continued growth in 2027, the Magic flywheel is firing on all cylinders," he stated.Hasbro's total revenue in the second quarter was $1.139 billion, compared to $980.8 million in the same period of 2025. Adjusted operating profit was $282.2 million, up 14% year-over-year, reflecting top-line momentum and a favorable mix. Net earnings attributable to Hasbro were $160.9 million, or $1.12 per diluted share.The Consumer Products segment, which includes toys and licensed products, grew 5% in revenue despite disruptions from an unauthorized network access identified in late March. The revenue impact was estimated at approximately $25 million, with direct costs of $11 million. The Entertainment segment, however, saw a 20% revenue decline related to the nature and timing of deals.Year-to-date, Hasbro revenue increased 15%, with adjusted operating profit rising 21% to $569.2 million. The company returned $239 million to shareholders through dividends and share repurchases in the first half of the year. The Board of Directors declared a quarterly cash dividend of $0.70 per common share, payable on September 2, 2026.Based on the results, Hasbro raised its full-year 2026 outlook. The company now expects total revenue growth of 5% to 7% in constant currency (up from 3% to 5% previously), adjusted operating margin of 25% to 26% (up from 24% to 25%), and adjusted EBITDA between $1.45 billion and $1.50 billion (up from $1.40 billion to $1.45 billion). CFO and COO Gina Goetter stated that the "broad-based strength across the business" gives the company "conviction to raise our full-year guidance."The company has since returned to pre-incident order processing and invoicing practices following the network access incident. Hasbro expects to incur additional costs related to the incident in future periods and has not recognized any insurance proceeds in the second quarter.Source: Businesswire
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