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Hasbro Hopes for Happy Holiday Season as Revenue Rises 15%

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Hasbro Hopes for Happy Holiday Season as Revenue Rises 15%

Hasbro saw 15% year-over-year revenue growth in the third quarter, fueled by its Wizards of the Coast and Digital Gaming segment, according to a Tuesday (Oct. 20) earnings press release.

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“Despite all of the macro noise in the quarter, we stayed true to our superpower, inspiring a lifetime of play,” Hasbro CEO Chris Cocks said during a Tuesday earnings call. “We do that by building deep, lasting fandom around great IP.”

The company’s Magic: The Gathering trading card franchise is “the clearest proof point,” Cox said, with revenues exceeding $600 million for the first time and increasing 34%, surpassing a record set in the second quarter.

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During the question-and-answer segment of the call, management was asked about Hasbro’s consumer product business, which saw revenues climb 4% thanks to properties like Marvel, KPop Demon Hunters and Transformers. The company expects growth of between 1% and 3% for this segment for the full year.

“I think our consumer products division inside of the midterm can do better than low single digits,” Cox said, pointing to a 2027 filled with “new licenses,” such as the 50th anniversary of the Star Wars franchise, new movies from Marvel and a new Harry Potter TV series.

While consumer confidence has been down nationwide, Hasbro said it sees no reason to worry heading into the holiday shopping season.


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