Hasbro Stock Surges Over 11% on Strong Q3 Earnings and Collectibles Growth
Shares of Hasbro (HAS) rose more than 11% after the company reported strong financial results for its fiscal third quarter, driven by a significant increase in sales from Magic: The Gathering. Revenue climbed to $1.6 billion, up 15% year-over-year, with collectible trading card game revenue surging 34%. CEO Chris Cocks highlighted that this marked the first time quarterly revenue exceeded $600 million for Magic: The Gathering. Hasbro's adjusted operating profit increased by 52%, aided in part by tariff refunds. Adjusted earnings per share jumped 73% to $2.90, largely due to stock buybacks. Looking ahead, the company raised its full-year revenue guidance and plans to double its share repurchase program from $200 million to $400 million. The strong performance reflects Hasbro's ability to capitalize on the collectibles boom while also returning value to shareholders through dividends and capital returns.
Tickers: $HAS
Topics: Hasbro Magic: The Gathering revenue growth stock performance