Hasbro Raises Full-Year Outlook as Magic: The Gathering Tops $500M in Quarterly Revenue
HAS sits 20% above its 52-week low of $69.5 on elevated volume (2.7× avg).
Summary
Hasbro reported Q2 2026 revenue of $1.14B (+16% YoY) and raised full-year guidance, powered by a record $500M+ quarter for Magic: The Gathering. Adjusted EPS of $1.28 beat expectations despite a $56M impairment and cyber-related disruptions.
Key Events · Earnings and Guidance · HAS
-
Record Magic: The Gathering Quarter
Magic: The Gathering revenue exceeded $500 million in a single quarter for the first time, growing 32% year-over-year, driven by the Marvel Super Heroes set and Secrets of Strixhaven.
-
Full-Year Guidance Raised
Hasbro increased its 2026 outlook: constant-currency revenue growth now 5-7% (up from 3-5%), adjusted operating margin 25-26% (up from 24-25%), and adjusted EBITDA $1.45B-$1.50B (up from $1.40B-$1.45B).
-
Q2 Revenue and Earnings Beat
Total revenue rose 16% to $1.14B; adjusted EPS of $1.28 compared to $1.30 a year ago, with the slight decline reflecting a $56M digital games impairment and $11M in cyber incident costs.
-
Cyber Incident Impact Quantified
The previously disclosed unauthorized network access caused an estimated $25M in lost revenue and $11M in direct incremental expenses during Q2, with operations now restored to pre-incident levels.
Analysis · HAS · Manufacturing
Hasbro delivered a strong Q2, with revenue up 16% to $1.14 billion, driven by a record quarter for Magic: The Gathering, which surpassed $500 million in revenue for the first time. Adjusted EPS of $1.28 beat expectations, and management raised full-year guidance across revenue, margin, and EBITDA. The quarter included a $56 million impairment charge tied to a refocused digital games portfolio and an estimated $25 million revenue hit from a previously disclosed cyber incident, making the underlying performance even stronger. The company also leaned into its $1 billion buyback authorization, returning $41.5 million to shareholders year-to-date. This report confirms the Magic flywheel is accelerating and that Hasbro's turnaround is gaining traction.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 36.3% of the 1065 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, HAS was trading at $83.35 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $11.5B. The 52-week trading range was $69.50 to $106.98. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.