Hasbro’s CEO just took direct control of Magic and D&D

Hasbro CEO Chris Cocks will temporarily oversee Wizards of the Coast after president John Hight stepped down. Cocks previously led Wizards from 2016 to 2022. Hasbro is searching for a permanent replacement. Hight cited D&D's and Magic's strength and upcoming 2027 lineup as highlights of his tenure.

Moody’s upgraded Hasbro’s outlook to positive from stable, citing strong gaming segment performance and cost discipline. The rating agency expects 5% revenue growth, improving margins, and debt reduction to 2.25x by year-end 2026. Hasbro’s Baa2 rating reflects its market leadership and conservative financial strategy, but risks include industry volatility and traditional toy weakness.

Hasbro (HAS) reported Q2 2026 earnings with EPS of $1.28 (beating estimates by 12.8%) and revenue of $1.14B (6.6% above expectations). The company raised full-year guidance to 5-7% revenue growth, driven by strong performance in Magic: The Gathering, including a 32% jump in quarterly revenue.

Mattel reported Q2 net sales of $1.12B, above LSEG’s $1.10B estimate, but adjusted profit was 1 cent per share versus a 4-cent estimate. Mattel cited tariffs, inflation, higher royalties, and currency moves, with adjusted gross margin down to 48.6% and operating income down 60% on higher marketing. It reaffirmed FY EPS $1.27-$1.39 and sales growth 3%-6%.

Hasbro won a London High Court copyright case against SConnect, the Vietnamese company behind the “Wolfoo” children’s animation franchise. A judge ordered removal of Wolfoo videos from platforms including YouTube, finding repeated use of Peppa Pig audio across 92 English-language videos and about three-quarters of foreign-language samples. The court issued a broad injunction covering multiple territories.

Hasbro said Wizards of the Coast president John Hight will step down effective Sept. 1, moving to an advisory role. Hasbro reported Wizards’ most successful fiscal year in 2025, with 45% YoY revenue growth. Magic: The Gathering posted record $1.72B annual revenue, up 59%, and surpassed $500M quarterly revenue. Hasbro said Wizards’ business strength and 2027 video game plans remain on track.