Hasbro, Inc. Q2 2026 Earnings Recap

Hasbro's shares rose 9.1% post-earnings, reflecting investor approval of broad-based revenue growth led by a standout 32% increase in Magic and an upward revision to the Wizards full-year outlook.

Key Takeaways

• Magic: The Gathering grew over 32% in Q2 and 34% for the first half, driving the decision to raise the full-year Wizards outlook.
• Consumer products revenue increased 5% with the toy and game business achieving a third consecutive quarter of growth.
• The company recorded a $56 million non-cash write-down for cancelled digital game projects, signaling tightened focus and cost discipline in its digital portfolio.
• Licensing initiatives accelerated, including a new multi-year agreement with Nintendo for The Legend of Zelda products launching in 2027.
• Magic's consistent long-term compound growth (17%+ annually since 2009) positions Hasbro well for durable franchise-level economics.