Why Hasbro Stock Jumped Today
Key Points
Magic: The Gathering revenue surpassed $600 million.
Hasbro is doubling its stock buyback program.
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Shares of Hasbro (NASDAQ:HAS) rallied more than 11% on Tuesday after the toymaker reported strong gains in sales and profits.
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Hasbro is cashing in on the collectibles boom
Hasbro's revenue rose 15% year over year to $1.6 billion in its fiscal third quarter, which ended on Sept. 27.
This growth was fueled by a 34% surge in sales related to Magic: The Gathering, a popular collectible trading card game featuring wizards and other fantasy characters.
"We delivered a fourth consecutive quarter of double-digit revenue growth, and Magic: The Gathering topped $600 million in quarterly revenue for the first time," CEO Chris Cocks said.
These sales gains, combined with roughly $55 million of tariff refunds, helped to drive Hasbro's adjusted operating profit up by 52% to $541 million.
Better still, the game maker's adjusted earnings per share, boosted by stock buybacks, soared 73% to $2.90.
Hasbro is ramping up its capital returns to investors
Looking ahead, Hasbro now sees full-year revenue rising by 7% to 9% in constant currency in fiscal 2026, with an adjusted operating margin of 27% to 28%.
This robust operational and financial performance is enabling Hasbro to strengthen its balance sheet by paying down debt, while investing in its growth initiatives and returning cash to shareholders via dividends.
The company also plans to double the size of its buyback program. "Based on the continued strength of our cash flow, we are again increasing our share repurchase target for the year from $200 million to $400 million," CFO and COO Gina Goetter said during a conference call with analysts.
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends Hasbro. The Motley Fool has a disclosure policy.
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