Hasbro CEO Chris Cocks: Why Wizards of the Coast and digital gaming are exploding

Brian Sozzi · Executive Editor

Thu, February 12, 2026 at 1:37 AM GMT+9 2 min read

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Hasbro (HAS) is entering a potentially holy grail year, led by whopping growth in its digital gaming business.

“I think whether it’s Dungeons & Dragons or Magic: The Gathering or, you know, some of our licensed partners like Monopoly Go, it’s really the community and bringing people together that really drives … the power in gaming,” Hasbro CEO Chris Cocks told me on Yahoo Finance’s Opening Bid.

Added Cocks, “I think [Magic: The Gathering] is what really separates it apart. The tens of millions of people who gather together and play around kitchen tables, and in 10,000 mom-and-pop hobby stores around the world. That’s what people really crave, particularly in an increasingly digital world. Authentic people-to-people connection and shared passion.”

Shares of the toymaker exploded 8% on Tuesday after the company easily beat fourth quarter profit estimates and offered upbeat guidance for 2026.

The Street gave Hasbro high marks for aggressive cost-cutting and strong sales momentum behind digital gaming platform Wizards of the Coast. Sales for the Wizards business surged 86% from the prior year, with operating margins up materially.

The company will also have a slew of new toys out this year tied to highly anticipated Disney movie releases like Toy Story 5.

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Hasbro’s outlook calls for another year of top-line growth and operating margin expansion.

“We continue to view Hasbro as the most compelling idea in our toy coverage, given the strength and durability of the Wizards/MTG engine, improving consumer products consistency, and a robust entertainment slate. The company enters 2026 with momentum, differentiated IP, expanding distribution, and strengthened financial flexibility, positioning Hasbro to outperform peers and deliver superior multi‑year earnings power, in our view,” said Jefferies analyst Kylie Cohu.

Cohu lifted his price target by 24% on Hasbro to $120. That puts him toward the high end of Wall Street analyst price targets, according to Yahoo Finance data.

Cocks said the toy industry has bottomed out after a few challenging years.

“The toy category has been down, kind of like low-single-digit percentage [drop] per year for the last three years. We see that starting to flatten out and basically being flat for the next two to three years. We think Hasbro will benefit — we’ve got a great innovation portfolio coming out.”

Brian Sozzi_ is Yahoo Finance’s Executive Editor and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com._

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