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Hasbro's Magic Surges, Stock Soars 11%
21 Oct
Summary
- Hasbro's revenue increased by 15% to $1.6 billion.
- Magic: The Gathering sales jumped 34%, hitting $600 million.
- Adjusted earnings per share soared 73% to $2.90.
Hasbro reported a significant increase in its stock value, rallying over 11% on Tuesday. This surge followed the toymaker's announcement of robust fiscal third-quarter results, with revenue climbing 15% year over year to $1.6 billion.
The impressive revenue growth was largely propelled by a substantial 34% increase in sales for "Magic: The Gathering," a popular collectible trading card game. This specific game alone achieved its highest quarterly revenue, exceeding $600 million for the first time, according to CEO Chris Cocks.
Combined with approximately $55 million in tariff refunds, these strong sales led to a 52% rise in Hasbro's adjusted operating profit, reaching $541 million. The company also saw its adjusted earnings per share jump by an impressive 73% to $2.90, partly due to strategic stock buyback initiatives.
Looking ahead, Hasbro projects full-year revenue growth between 7% and 9% in constant currency for fiscal 2026, with an adjusted operating margin targeted at 27% to 28%. The company is enhancing its capital return program by doubling its share repurchase target to $400 million, demonstrating a commitment to increasing shareholder value.
