Why Hasbro Stock Surged This Week

Hasbro stock surged 18.9% this week following a strong Q3 earnings report with revenue of $1.60 billion (beating estimates of $1.48 billion) and adjusted EPS of $2.90 (vs. expected $1.86). Magic: The Gathering drove growth with revenue jumping 34% year-over-year to exceed $600 million for the first time. Management raised full-year revenue guidance to 7%-9% growth and doubled share repurchase targets to $400 million, reflecting strong cash flow and a successful shift toward higher-margin digital and tabletop gaming.