Hasbro stock jumps after earnings beat and $1B buyback — but 2026 sales outlook trails Wall Street

10 February 2026

New York, Feb 10, 2026, 10:44 AM (EST) — Regular session.

Hasbro jumped roughly 7% early after the toy maker delivered a strong holiday-quarter beat and rolled out a new $1 billion buyback plan.
For 2026, revenue is expected to rise 3% to 5% in constant currency—coming in under Wall Street’s estimate.
Toy demand’s still patchy, but it’s Wizards and “Magic: The Gathering” doing most of the heavy lifting.

Hasbro moved up roughly 7% to $103.71 on Tuesday morning. The stock earlier reached $105.35.

Investors jumped on the holiday-quarter beat and plans for increased cash returns, though the Play-Doh maker mapped out a softer sales trajectory through 2026.

Toy makers remain pressed by weak demand for non-essentials and higher costs, with import tariffs still working their way through to the shelves. Hasbro is guiding for 2026 revenue growth of just 3% to 5% in constant currency—excluding currency effects—which is under the 5.16% analyst consensus from LSEG data. The Hollywood studio’s fresh licensing deal comes as it already partners with other names in toys, including Mattel and Lego. “We would expect small price increases for the company’s strongest brands,” said Zachary Warring, analyst at CFRA Research. Reuters

Hasbro in its latest filing posted fourth-quarter revenue of $1.45 billion, with adjusted earnings at $1.51 a share. Revenue for 2025 climbed 14%, hitting $4.70 billion. Looking to 2026, the company is projecting an adjusted operating margin between 24% and 25%, and expects adjusted EBITDA somewhere in the $1.40 to $1.45 billion range. Hasbro also rolled out a fresh $1 billion share buyback program and set a quarterly dividend at $0.70 per share. CEO Chris Cocks said the company had “returned the company to growth.” CFO Gina Goetter pointed to Wizards as “a standout,” calling out “record MAGIC revenue,” with Magic: The Gathering surging 59% year over year. SEC

Hasbro rolled out news of a multi-year deal with Warner Bros Discovery’s global consumer products group to produce toys and games based on the “Harry Potter” franchise. The agreement kicks off in 2027. Reuters

Markets zeroed in on one thing: Wizards and digital gaming are driving results. The core toy segment? Still on the hook to show it can defend margins, with retailers keeping orders tight and prices edging higher.

The stock ended Monday up 3.1% at $96.76, just a hair under its previous 52-week high. Tuesday’s move took it past that mark.

Still, the bear case is clear enough. Tariffs could send costs climbing again, or consumers might tighten their belts post-holiday. With revenue guidance already coming in below consensus, there’s not much leeway.

The timing on this new licensing effort adds another layer of risk. The Harry Potter deal doesn’t kick in until 2027, so right now it’s a bet on the pipeline—not something that’s going to move next quarter’s sell-through.

Traders have their eyes on the pace of the buyback rollout, plus any signals from management on pricing strength that don’t come at the expense of volume. Up ahead: Feb. 18 is the record date for shareholders to qualify for the quarterly dividend, set to be paid March 4.

Shan Ahmed Khan Latest posts

Shan Ahmed Khan is a senior markets reporter at TS2.tech. His coverage ranges from stocks and technology to economic developments across global markets. He worked in investment research and market analysis before becoming a financial journalist and is a graduate of the Lahore University of Management Sciences (LUMS).

View all