Hasbro reported strong first-quarter 2026 results, posting $1 billion in revenue, up 13% year over year, as continued momentum from Magic: The Gathering powered growth across its Wizards and Digital Gaming segment.
Operating profit increased 58% to $270 million, while adjusted operating profit climbed 29% to $287 million. Net earnings attributable to Hasbro nearly doubled to $198.4 million, up from $98.6 million during the same period last year, and adjusted earnings per diluted share rose to $1.47 from $1.04.
Wizards and Digital Gaming remained the company’s largest growth engine, with revenue increasing 26% to $582 million. Magic sales grew 36% to nearly $470 million, fueled by releases including Lorwyn Eclipsed and the Teenage Mutant Ninja Turtles Universes Beyond collaboration, as well as continued demand for catalog products.
“The first quarter was a strong start to the year and reflects tailwinds from our Playing to Win strategy,” shares Chris Cocks, CEO. “Wizards continues to break records, supported by Magic: The Gathering’s flywheel of player growth and expanded distribution. In Consumer Products, we delivered another quarter of growth in our toy and game business, and remain on track to grow the entire segment for the full year 2026.”
Cocks notes momentum extends into organized play and live events, noting that MagicCon Las Vegas became the largest event in the brand’s history with more than 23,000 badges sold.
Digital and licensed gaming revenue grew 3%, while Monopoly Go! contributed $41 million in first-quarter revenue.
Consumer Products revenue was effectively flat at $397.9 million, reflecting gains in toys and games offset by more difficult licensing comparisons from the prior year. The segment posted an operating loss of $47.5 million, which the company attributed in part to seasonality, tariff-related costs, and licensing comparisons.
Hasbro executives pointed to an entertainment-driven product pipeline expected to support growth through the remainder of the year. Cocks highlighted theatrical releases including The Mandalorian and Grogu, Toy Story 5, and Avengers: Doomsday as key opportunities for Consumer Products, alongside innovation across brands including Play-Doh and new gaming initiatives.
The Entertainment segment reported revenue of $20.3 million, down 24% year over year because of the timing of deal activity, though operating profit improved to $17.3 million.
The company also disclosed additional details surrounding an unauthorized network access incident first identified in late March. According to executives, Hasbro expects approximately $20 million in remediation costs in 2026, along with temporary delays in invoicing and an estimated $40-60 million shift in Consumer Products revenue from the second half of the year. Company leaders said operations remain active and recovery efforts are ongoing.
Despite those challenges, Hasbro reaffirmed its full-year guidance, maintaining expectations for total revenue growth of 3-5% in constant currency, adjusted operating margins of 24-25%, and adjusted EBITDA between $1.40 billion and $1.45 billion. The company also announced a quarterly dividend of $0.70 per share payable on June 11 to shareholders of record as of June 1.
“Our first quarter results demonstrate continued top-line momentum and disciplined execution,” shares Gina Goetter, CFO and COO. “We remain focused on delivering our annual objectives by driving operating leverage, investing behind our highest-return brands, and returning cash to shareholders as we build on this solid start to the year.”
For more on this year’s biggest licensing and entertainment properties and the toys that go with them, pick up The Toy Book’s 2026 Licensing & Entertainment Issue, featuring The Licensing Book, available now. Subscribe today!
