Magic: The Gathering Revenue Hits a Record in Hasbro Q3 2026

Magic: The Gathering revenue passed $600 million in a single quarter for the first time. Hasbro's third-quarter earnings release, filed with the SEC on October 20, 2026, puts it down to two sets: The Hobbit and Reality Fracture. For players, the useful parts sit below the headline: Hasbro is printing more Magic than ever, Star Trek closes out the year, and the company already expects the next quarter to dip because some sales moved between quarters.

Magic: The Gathering revenue in Q3: what Hasbro reported

The quarter closed on September 27. Reality Fracture didn't release until October 2, so its share of the quarter is shipments to stores, and CEO Chris Cocks said on the earnings call that those shipments beat Hasbro's expectations. CFO Gina Goetter put a size on it: about $40 million of Magic sales Hasbro had planned for the fourth quarter, mostly Reality Fracture, landed in the third instead.

The Hobbit did the rest. Out in August, it's now the fourth best-selling set in Magic's history by Cocks' count, and it got there with a leaner product lineup than a full premier release. Older sets still on shelves and Secret Lair are both on track for record years too. The quarter also beat the record Magic set one quarter earlier.

Magic revenue by quarter, in Hasbro's own figures. Source: Hasbro earnings releases filed with the SEC; chart: BaseMTG.

Nine months in, Magic has made within about $90 million of everything it made in all of 2025, a year Hasbro already called a record for Magic.

Source: Hasbro earnings releases for the fourth quarter of 2025 and the third quarter of 2026; chart: BaseMTG.

What's next for Magic: The Gathering revenue

Hasbro raised its 2026 outlook. It now expects total revenue to grow 7-9% at constant currency, up from 5-7%. The Wizards of the Coast segment is now expected to grow revenue 16% to 18% for the year.

The fourth quarter is the catch. Cocks said Magic "will likely be down" from October to December, by a low to mid single-digit percentage, because of the early Reality Fracture shipments and some product Hasbro moved into the first quarter of 2027. Without those shifts, Magic would have been up around 8% to 10%. He expects "another big spike" in the first quarter. Those are Hasbro's projections, not results; the next earnings release will show whether the dip is as small as promised.

What it means for players

Prices. Nothing in the release or the call is about what packs or decks will cost. The only line about prices is the standard risk language that tariffs could raise them. So there's nothing here about an MSRP change either way. For what drives singles prices, our MTG card price guide covers reprints and the markets, and Reality Fracture's prices since launch show how a hot set settles.

Supply. Hasbro raised initial print and distribution runs so it can meet demand at launch, and Goetter said it is "producing more products than at any point in the brand's history." That's the company's stated plan against launch-week sellouts, and Star Trek in November is the first set where we'll see whether it works.

The calendar. Star Trek is the last set of 2026 and releases November 13 (our Star Trek release date guide has the prerelease dates). Hasbro has six tentpole releases lined up for 2027, each with a full product suite. If you're new to the crossover sets, Universes Beyond explained covers how they fit into Standard.

Stores. Organized play participants were up more than 40% in the first nine months of 2026 compared with all of 2024. That's a count of players, separate from the sales figures. For how the new set is doing at the table, see the Standard meta after Reality Fracture.

What players are saying

Not everyone in the r/magicTCG thread on the results was celebrating. One player wrote they were "a little disappointed by how smashing of a success The Hobbit was," the set they were "least enthusiastic about by far this year." Another, who runs events at their store, said "Hobbit almost killed FNM Draft at my store!" at $35 a seat, and that for Reality Fracture there's "no product to draft!" That last line sits awkwardly next to Hasbro's bigger print runs, and it's one store, so we'd treat it as a data point rather than a trend.

One early comment asked whether Hasbro made "517MM profit on 600MM revenue." It didn't. The record figure is Magic's revenue alone; Hasbro's $517 million operating profit covers the whole company.

This is market commentary from public filings, not financial advice.

How we checked: Magic figures from Hasbro's earnings releases filed with the SEC, third quarter 2025 to third quarter 2026; quotes from the October 20 earnings call transcript; release dates from Scryfall.

References

• Hasbro: Third quarter 2026 earnings release (SEC 8-K exhibit)
• Hasbro Investor Relations: third quarter 2026 financial results
• The Motley Fool: Hasbro (HAS) Q3 2026 earnings call transcript
• Hasbro: Second quarter 2026 earnings release (SEC 8-K exhibit)
• Hasbro: Fourth quarter and full year 2025 earnings release (SEC 8-K exhibit)
• r/magicTCG: thread on Hasbro's third quarter 2026 results
• Scryfall: Reality Fracture and Star Trek set pages