HAS
FY2026 Q2 · Calendar Q3 2026
Hasbro, Inc.
Hasbro's Q2 2026 confirms that the Wizards of the Coast flywheel is accelerating, not cooling. Magic: The Gathering revenue grew 32% year-over-year, driving the Wizards segment up 27%, while the Marvel Super Heroes set became the fastest Magic release to reach $300 million. Revenue of $1.14 billion beat consensus by 6.6% and EPS of $1.28 exceeded estimates by 10.3%, prompting management to raise full-year guidance to 5-7% revenue growth and 25-26% adjusted operating margin — a meaningful upgrade from Q1's maintained stance. The stock responded with an 8.8% gain on roughly 4x normal volume and continued to drift higher. The key question is whether Magic's momentum and new licensing agreements — particularly the Nintendo Zelda deal — can sustain this pace into 2027, even as the company absorbs a $56 million digital impairment and ramps marketing spend for upcoming video game launches.
EPS surprise+10.3%
Market move+8.8%
