Hasbro Q2 2025: Wizards of the Coast Drives Growth, Outlook Raised Despite Impairment

Hasbro has reported its financial results for the second quarter of 2025, highlighting robust growth in its Wizards of the Coast and Digital Gaming segment, fueled by record-breaking sales of MAGIC: THE GATHERING. Q2 revenues reached $980.8 million, nearly flat year-over-year, while adjusted operating profit remained steady at $247.1 million. The company faced a significant $1 billion non-cash goodwill impairment in its Consumer Products segment, resulting in a GAAP net loss of $855.8 million. However, adjusted net earnings improved to $183.9 million, or $1.30 per share.

Wizards of the Coast and Digital Gaming revenues surged 16% to $522.4 million, with MAGIC: THE GATHERING up 23% and the Final Fantasy set marking the largest release in the brand’s history. Consumer Products revenues declined 16%, mainly due to softer demand in North America and Latin America, but licensing and key brands like BEYBLADE and TRANSFORMERS showed resilience.

Hasbro raised its full-year outlook, now expecting mid-single-digit revenue growth and higher adjusted EBITDA. CEO Chris Cocks emphasized the success of the company’s “Playing to Win” strategy and ongoing investment in digital and core brands. The company continues to prioritize debt reduction and shareholder returns.

Source: Hasbro Newsroom