Hasbro, Inc. reported fourth‑quarter 2025 revenue of $1.4459 billion, up 31.3% year‑over‑year, and adjusted earnings per share of $1.51, surpassing consensus estimates of $0.97–$0.99 per share. The company’s full‑year 2025 revenue totaled $4.7013 billion, a 14% increase from the prior year, while full‑year adjusted EPS rose to $5.54, well above the consensus range of $5.53. The results were driven by a 86% jump in Wizards of the Coast and Digital Gaming segment revenue to $630.4 million, which contributed roughly 44% of operating profit and reflected record sales of Magic: The Gathering and other digital titles.
The Wizards segment’s performance was the primary engine behind the revenue and earnings beat. A 45% increase in the segment’s full‑year revenue, driven by strong demand for Magic: The Gathering and new licensing deals, lifted the overall mix toward higher‑margin products. The company’s operating margin expanded to 24.2% from 20.3% in 2024, a 3.9‑percentage‑point gain that reflects both the higher mix and disciplined cost management in the consumer‑products division.
Hasbro reaffirmed its 2026 outlook, guiding for revenue growth of 3%–5% and adjusted EBITDA of $1.40 billion to $1.45 billion. The guidance shift from the prior 5%–8% revenue growth range signals a more conservative view of macroeconomic headwinds while maintaining confidence in the company’s digital‑first strategy. The firm also announced a $1.0 billion share‑repurchase program and a quarterly dividend of $0.70 per share, underscoring its commitment to returning value to shareholders.
Chief Executive Officer Chris Cocks said the quarter “demonstrates the success of our Playing to Win strategy, with Wizards driving double‑digit revenue growth and record profits.” He added that the company’s focus on high‑margin gaming and licensing is “fueling a transformation into a digital‑first play and IP company.” Chief Financial Officer Gina Goetter highlighted the company’s “strong operational execution and cost‑control measures” that enabled the margin expansion and supported the share‑repurchase program.
The earnings beat and guidance reinforce Hasbro’s strategic pivot toward high‑margin, IP‑driven businesses. The robust performance of Wizards of the Coast, combined with disciplined cost management, positions the company to sustain growth despite broader market uncertainties. The updated guidance reflects a realistic assessment of demand while signaling confidence in the company’s ability to deliver shareholder value through dividends and share buybacks.
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