The toy and game company reported net earnings of $198.4 million in the first quarter, up from $98.6 million a year earlier
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Hasbro reported first-quarter net earnings of $198.4 million, more than double the $98.6 million it earned in the same period last year, as surging demand for Magic: The Gathering card sets pushed total revenue above $1 billion for the first time in a quarter.
Revenue rose 13% to $1,000.2 million, up from $887.1 million in the first quarter of 2025. Adjusted earnings per diluted share came in at $1.47. Analysts had expected adjusted earnings of $1.13 per share and revenue of $964.38 million, according to Reuters.
The gains were driven by Hasbro's Wizards of the Coast and Digital Gaming segment, where revenue climbed 26% to $582.0 million. The card game brought in $469.6 million, a 36% year-over-year gain, with the Lorwyn Eclipsed and Teenage Mutant Ninja Turtles Universes Beyond sets both launching in the quarter and ongoing demand for older releases adding to the total, the company said. The mobile game Monopoly Go! contributed $41 million in revenue during the quarter.
Operating profit for the segment reached $297.7 million, a 51.2% operating margin, the company said.
"Wizards continues to break records, supported by Magic: The Gathering's flywheel of player growth and expanded distribution," Hasbro CEO Chris Cocks said in a statement.
Hasbro's Consumer Products segment posted essentially flat revenue of $397.9 million, compared with $398.3 million a year earlier. The segment reported an operating loss of $47.5 million, widened from a loss of $43.9 million in the prior-year period, driven in part by approximately $8.3 million in tariff costs on goods imported into the U.S., the company said. Star Wars toys and games saw growth heading into the release of The Mandalorian and Grogu movie.
The Entertainment segment reported a 24% revenue decline to $20.3 million, tied to the timing of streaming deals, though operating profit improved to $17.3 million from an operating loss of $11.2 million a year ago. The prior-year period included a $25.0 million non-cash loss related to the divestiture of the company's entertainment film and television business.
A network intrusion was discovered by the company in late March 2026. Outside cybersecurity experts helped the company assess the intrusion, and Hasbro said it considers the incident contained; legal fees and remediation expenses tied to the event began accumulating in the second quarter. Insurance claims are being prepared to recover some of those expenses, though the total financial exposure remains unclear.
For the full year, Hasbro stood by its prior guidance, which targets constant-currency revenue growth of 3% to 5% and adjusted EBITDA in a range of $1.40 billion to $1.45 billion.
Hasbro CFO and COO Gina Goetter said in a statement that the company remains focused on "driving operating leverage, investing behind our highest-return brands, and returning cash to shareholders."
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