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Hasbro tops Q2 expectations, lifts full-year guidance
Q2 revenue rose 16% year over year to $1.14 billion, and Magic: The Gathering topped $500 million in quarterly revenue for the first time.
Hasbro reported Q2 2026 results that beat both revenue and adjusted earnings expectations and led the company to raise its second-half guidance, according to MarketBeat Ratings. The toy and games maker said the business posted a muted investor reaction despite the upside in key fundamentals.
Q2 revenue increased 16% year over year to $1.14 billion, while adjusted EPS was $1.28, roughly flat versus last year but ahead of expectations. Revenue growth was led by the Wizards of the Coast and Digital Gaming segment, which rose 27%, with Magic: The Gathering crossing $500 million in quarterly revenue for the first time.
Hasbro also reported segment operating profit up 12% to $270 million, even after absorbing a $56 million digital games impairment. Consumer Products revenue rose 5%, though Entertainment revenue declined 20% due to deal timing.
For the full year, Hasbro lifted guidance, with revenue growth now expected at 5% to 7% in constant currency, up from 3% to 5%. It also raised adjusted operating margin guidance to 25% to 26%, increased adjusted EBITDA guidance to $1.45 billion to $1.50 billion, and said operating cash flow nearly tripled to $604 million, using the cash to pay down debt and pursue its $1 billion buyback authorization.