Hasbro returned to growth in 2025, driven by strong performance in its Wizards of the Coast and Digital Gaming segment, particularly Magic: The Gathering. The company demonstrated operational execution and cost savings, leading to improved adjusted profitability and a significant increase in revenue year-over-year. Management is confident in carrying this momentum into 2026 with a focus on continued investment and shareholder returns.
Full year Hasbro revenue increased 14% driven by record 45% growth in the Wizards of the Coast and Digital Gaming segment.
positiveMAGIC: THE GATHERING finished its strongest year ever, up 59% vs. PY with a successful Q4 Avatar: The Last Airbender set and ongoing strength in backlist and Secret Lair.
positiveAdjusted operating profit of $1,140 million (+36% vs. PY) and adjusted operating margin of 24.2% (+3.9 points vs. PY), driven by favorable business mix and benefits from cost transformation efforts.
positiveFourth Quarter 2025 revenues increased 31% vs. PY, with growth in Wizards and Digital Gaming (+86%) and Consumer Products (+7%) partially offset by a decline in Entertainment (-5%).
positiveAnnounced a new share repurchase program of up to $1.0 billion.
positiveConsumer Products segment revenue decreased 4% year-over-year, and Entertainment segment revenue declined 4%.
attentionReported net loss of $322.4 million for the full year 2025, compared to net earnings of $385.6 million in the prior year.
negativeOperating profit of $11.1 million and operating margin of 0.2% for the full year 2025 reflects the second quarter 2025 non-cash goodwill impairment of $1,021.9 million.
negativeConsumer Products adjusted operating profit was down 26% versus last year behind lower revenues and tariff costs.
attentionEntertainment adjusted operating margin was down versus PY due to lower revenues.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Wizards of the Coast and Digital Gaming | N/A | — | — | — |
Consumer Products | N/A | — | — | — |
Entertainment | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
We returned the company to growth, engaged one billion fans, secured new partnerships, and made progress in our evolution into a digital-first play and IP company. We expect that momentum to carry into 2026.
2025 reflected strong operational execution, driven by progress on our transformation and cost savings initiatives. Wizards was a standout, anchored by record MAGIC revenue.
Looking ahead, we will continue to balance investment in the business with shareholder returns, including through a $1.0 billion share repurchase program.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.