Hasbro swung from a loss of USD 856m to a profit of USD 161m in one year

Hasbro, the US maker of toys, games and media content, reported revenue of USD 1.3bn for the second quarter of 2026, up 13.8% on a year earlier. Operating profit was USD 253m, against an operating loss of USD 798m in the second quarter of 2025. Net profit came to USD 161m, after a net loss of USD 856m. The operating margin moved to 19.6% from -70.4%, a swing of 90.0 pp. All figures are in US dollars and compare the quarters ending in June.

A swing of this size rarely comes from sales alone. Revenue rose by USD 157m, far too little to explain a turnaround of USD 1.1bn in operating profit, so the prior-year quarter was most likely hit by a large one-off charge. The accounts do not say what it was. The balance sheet shows the damage: equity stands at USD 730m, an equity ratio of 12.1%, up from 5.2%. One profitable quarter proves the swing, not yet the level a business can plan on.