Pop Mart International vs Hasbro: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Pop Mart International Group Ltd (9992.HK)

Q3 202620 Jul – 21 Aug 2026

▲2▼2

Pop Mart's H1 growth slows sharply; overseas weakness and Labubu decline weigh on outlook

Strong H1 revenue and profit, plus buyback Pop Mart reported H1 2026 revenue up 23.8% to 17.17 billion yuan and adjusted net profit of 5.16 billion yuan (30% margin). It also announced a 2-5 billion yuan share buyback over six months, which supports the share price by returning cash to shareholders and signalling confidence.
This is the core positive fundamental news that initially drove the stock and provides a counterweight to the negative outlook.
Diversified IP portfolio and new store openings Six top IPs each generated over 1 billion yuan, with TWINKLE TWINKLE up 580.6% and plush category up 60%. Pop Mart also opened its first beachfront store in Pattaya, Thailand, boosting brand exposure and tourist footfall. These show demand beyond Labubu and support future growth.
Highlights the company's ability to grow other IPs and expand globally, which is key to offsetting Labubu's decline.
Overseas sales decline and Citi downgrade Asia Pacific ex-China revenue fell 9.7% and Americas dropped 16.5%, leading Citi to cut its price target to HK$198 and forecast an 8% group revenue decline in 2026. Management now sees its initial 20% growth target as difficult, raising concerns about overseas expansion.
This is the main negative driver that caused the stock to fall over 4% and reflects real challenges in key growth markets.
Labubu revenue declines for first time Labubu (The Monsters) revenue fell 7.5% year-on-year to 4.45 billion yuan, its first contraction in years. Analysts see this as a warning that growth is normalizing and want new IPs that can match Labubu's scale to offset the slowdown.
Labubu has been the main growth engine, so its decline is a significant negative signal for future earnings.

August 202620 Jul – 21 Aug 2026

▲2▼2

Pop Mart's H1 growth slows sharply; overseas weakness and Labubu decline weigh on outlook

Strong H1 revenue and profit, plus buyback Pop Mart reported H1 2026 revenue up 23.8% to 17.17 billion yuan and adjusted net profit of 5.16 billion yuan (30% margin). It also announced a 2-5 billion yuan share buyback over six months, which supports the share price by returning cash to shareholders and signalling confidence.
This is the core positive fundamental news that initially drove the stock and provides a counterweight to the negative outlook.
Diversified IP portfolio and new store openings Six top IPs each generated over 1 billion yuan, with TWINKLE TWINKLE up 580.6% and plush category up 60%. Pop Mart also opened its first beachfront store in Pattaya, Thailand, boosting brand exposure and tourist footfall. These show demand beyond Labubu and support future growth.
Highlights the company's ability to grow other IPs and expand globally, which is key to offsetting Labubu's decline.
Overseas sales decline and Citi downgrade Asia Pacific ex-China revenue fell 9.7% and Americas dropped 16.5%, leading Citi to cut its price target to HK$198 and forecast an 8% group revenue decline in 2026. Management now sees its initial 20% growth target as difficult, raising concerns about overseas expansion.
This is the main negative driver that caused the stock to fall over 4% and reflects real challenges in key growth markets.
Labubu revenue declines for first time Labubu (The Monsters) revenue fell 7.5% year-on-year to 4.45 billion yuan, its first contraction in years. Analysts see this as a warning that growth is normalizing and want new IPs that can match Labubu's scale to offset the slowdown.
Labubu has been the main growth engine, so its decline is a significant negative signal for future earnings.

Latest20 Jul – 21 Aug 2026

▲2▼2

Pop Mart's H1 growth slows sharply; overseas weakness and Labubu decline weigh on outlook

Strong H1 revenue and profit, plus buyback Pop Mart reported H1 2026 revenue up 23.8% to 17.17 billion yuan and adjusted net profit of 5.16 billion yuan (30% margin). It also announced a 2-5 billion yuan share buyback over six months, which supports the share price by returning cash to shareholders and signalling confidence.
This is the core positive fundamental news that initially drove the stock and provides a counterweight to the negative outlook.
Diversified IP portfolio and new store openings Six top IPs each generated over 1 billion yuan, with TWINKLE TWINKLE up 580.6% and plush category up 60%. Pop Mart also opened its first beachfront store in Pattaya, Thailand, boosting brand exposure and tourist footfall. These show demand beyond Labubu and support future growth.
Highlights the company's ability to grow other IPs and expand globally, which is key to offsetting Labubu's decline.
Overseas sales decline and Citi downgrade Asia Pacific ex-China revenue fell 9.7% and Americas dropped 16.5%, leading Citi to cut its price target to HK$198 and forecast an 8% group revenue decline in 2026. Management now sees its initial 20% growth target as difficult, raising concerns about overseas expansion.
This is the main negative driver that caused the stock to fall over 4% and reflects real challenges in key growth markets.
Labubu revenue declines for first time Labubu (The Monsters) revenue fell 7.5% year-on-year to 4.45 billion yuan, its first contraction in years. Analysts see this as a warning that growth is normalizing and want new IPs that can match Labubu's scale to offset the slowdown.
Labubu has been the main growth engine, so its decline is a significant negative signal for future earnings.

Hasbro Inc (HAS)

Q3 202626 Jun – 8 Oct 2026

▲3▼1

Hasbro surges on record Magic: The Gathering sales and raised outlook

Record Magic: The Gathering sales drive guidance raise Hasbro raised its 2026 outlook after Magic: The Gathering quarterly revenue topped $500 million, lifting full-year growth guidance to 5–7% and adjusted EBITDA to $1.45–1.50 billion. This directly boosted investor confidence and the stock price.
This is the primary new event that drove the stock higher this quarter.
Q2 earnings beat and stock jump Q2 EPS of $1.28 and revenue of $1.14 billion beat estimates. Wizards of the Coast grew 27–32%, consumer products rose for a third straight quarter, and the stock jumped over 10%, outperforming Mattel.
This is a new quarterly earnings result that directly moved the stock.
Expansion into digital games and shareholder returns Hasbro opened a Montreal studio to expand Dungeons & Dragons digital games, and offers a 3%+ dividend yield with buybacks. These moves support long-term growth and provide income to shareholders.
This is a new strategic initiative and capital return that supports the stock.
Traditional Consumer Products unit remains weak The traditional Consumer Products unit grew only 5% with an $8 million operating loss, acting as a counterweight. The rally depends heavily on Magic: The Gathering, so weakness here could hurt if Magic slows.
This is a new counterweight that balances the positive drivers and shows a risk.

September 202628 Jul – 8 Oct 2026

▲4

Hasbro Raises Outlook on Strong Magic and Toy Demand

Q2 Beat and Raised Full-Year Guidance Hasbro's Q2 revenue jumped 16.2% to $1.14 billion, beating estimates, and earnings per share also topped forecasts. Management raised full-year revenue growth guidance to 5-7% from 3-5%, signaling stronger expected profits and lifting the stock.
This is the core new event that directly boosts investor expectations for Hasbro's earnings.
Magic: The Gathering and Consumer Products Drive Growth Magic: The Gathering revenue surged 32%, and consumer products grew for a third straight quarter. This shows strong demand for Hasbro's key brands, supporting revenue and profit growth, which pushes the stock up.
It explains the underlying demand strength that is fueling Hasbro's improved financial performance.
New Montreal Studio Expands Dungeons & Dragons Digital Push Hasbro opened a new Wizards of the Coast studio in Montreal focused on Dungeons & Dragons and digital games. This long-term investment aims to grow the franchise and digital revenue, a positive for future growth.
It is a new strategic move that could drive future revenue and shows Hasbro's commitment to expanding its game portfolio.
Hasbro Outperforms Mattel, Highlighting Competitive Strength Mattel's Q2 revenue rose but earnings missed, sending its stock down. In contrast, Hasbro beat on revenue, earnings, and EBITDA, with its stock up 10.3%. This comparison underscores Hasbro's stronger execution and market favor.
It provides a competitive context that reinforces Hasbro's relative strength and positive investor sentiment.

Latest28 Jul – 8 Oct 2026

▲4

Hasbro Raises Outlook on Strong Magic and Toy Demand

Q2 Beat and Raised Full-Year Guidance Hasbro's Q2 revenue jumped 16.2% to $1.14 billion, beating estimates, and earnings per share also topped forecasts. Management raised full-year revenue growth guidance to 5-7% from 3-5%, signaling stronger expected profits and lifting the stock.
This is the core new event that directly boosts investor expectations for Hasbro's earnings.
Magic: The Gathering and Consumer Products Drive Growth Magic: The Gathering revenue surged 32%, and consumer products grew for a third straight quarter. This shows strong demand for Hasbro's key brands, supporting revenue and profit growth, which pushes the stock up.
It explains the underlying demand strength that is fueling Hasbro's improved financial performance.
New Montreal Studio Expands Dungeons & Dragons Digital Push Hasbro opened a new Wizards of the Coast studio in Montreal focused on Dungeons & Dragons and digital games. This long-term investment aims to grow the franchise and digital revenue, a positive for future growth.
It is a new strategic move that could drive future revenue and shows Hasbro's commitment to expanding its game portfolio.
Hasbro Outperforms Mattel, Highlighting Competitive Strength Mattel's Q2 revenue rose but earnings missed, sending its stock down. In contrast, Hasbro beat on revenue, earnings, and EBITDA, with its stock up 10.3%. This comparison underscores Hasbro's stronger execution and market favor.
It provides a competitive context that reinforces Hasbro's relative strength and positive investor sentiment.

July 202626 Jun – 22 Jul 2026

▲3

Hasbro Raises 2026 Outlook on Record Magic: The Gathering Sales

Record Magic: The Gathering quarter drives guidance raise Hasbro raised its full-year revenue growth target to 5-7% and adjusted EBITDA to $1.45-1.50 billion after Magic: The Gathering topped $500 million in quarterly revenue for the first time. This directly boosts expected profits and makes the stock more attractive to investors.
This is the core new event that answers why HAS is moving now.
Q2 earnings beat on strong Wizards of the Coast growth Hasbro beat Q2 estimates with adjusted EPS of $1.28 (9.4% above consensus) and revenue of $1.14 billion (8.9% above). The Wizards of the Coast segment grew 27% to $664 million, showing the digital and gaming side is firing on all cylinders.
The earnings beat is new and confirms the company's momentum, pushing the stock up.
Stock jumps over 10% on the news Hasbro shares surged more than 10% after the guidance raise and earnings beat, as investors reacted to the strong Magic: The Gathering sales and improved outlook. The stock also offers a dividend yield above 3% and management buys back shares.
This shows the immediate market reaction and reinforces the positive impact.
Consumer Products still weak with operating loss While the digital gaming segment soared, the traditional Consumer Products unit grew only 5% and posted an $8 million operating loss. This is a real counterweight: the toy business remains soft, so the rally depends heavily on Magic: The Gathering.
It provides a fair picture of the risks behind the stock's move.

26 Jun – 22 Jul 2026

▲3

Hasbro Raises 2026 Outlook on Record Magic: The Gathering Sales

Record Magic: The Gathering quarter drives guidance raise Hasbro raised its full-year revenue growth target to 5-7% and adjusted EBITDA to $1.45-1.50 billion after Magic: The Gathering topped $500 million in quarterly revenue for the first time. This directly boosts expected profits and makes the stock more attractive to investors.
This is the core new event that answers why HAS is moving now.
Q2 earnings beat on strong Wizards of the Coast growth Hasbro beat Q2 estimates with adjusted EPS of $1.28 (9.4% above consensus) and revenue of $1.14 billion (8.9% above). The Wizards of the Coast segment grew 27% to $664 million, showing the digital and gaming side is firing on all cylinders.
The earnings beat is new and confirms the company's momentum, pushing the stock up.
Stock jumps over 10% on the news Hasbro shares surged more than 10% after the guidance raise and earnings beat, as investors reacted to the strong Magic: The Gathering sales and improved outlook. The stock also offers a dividend yield above 3% and management buys back shares.
This shows the immediate market reaction and reinforces the positive impact.
Consumer Products still weak with operating loss While the digital gaming segment soared, the traditional Consumer Products unit grew only 5% and posted an $8 million operating loss. This is a real counterweight: the toy business remains soft, so the rally depends heavily on Magic: The Gathering.
It provides a fair picture of the risks behind the stock's move.