Hasbro, parent company of Wizards of the Coast (WotC), released its third quarter financial results on Tuesday and they were led by another record quarter for WotC’s Digital Gaming Segment. Headlined by more than $600 million in revenue for Magic: The Gathering, Hasbro’s total revenue grew 15 percent over 2025’s Q3.
Hasbro CEO, Chris Cocks, said during the Third Quarter 2026 Earnings Conference Call that Magic revenue topped $600 million for the first time, beating the record of last quarter thanks to strong performances from Magic: The Gathering | The Hobbit™ and Reality Fracture. Cocks had high praise for Magic: The Gathering | The Hobbit™ due to it becoming the fourth-best selling set in Magic history despite its limited product run. In fact, it will likely do even more lifetime than The Lord of the Rings: Tales of Middle-earth even though it has far fewer SKUs than the massive success from 2023. Early sales for Reality Fracture boosted Q3 revenue along with backlist and Secret Lair sales, which are on track for record years as well.
Another sign of success from Magic: The Gathering | The Hobbit™ was its prerelease turnout, which Cocks said was the highest participation WotC has seen for a Universes Beyond set. This fact ties into the stats that Magic Organized Play participants are up more than 40 percent from 2025, with three months left in the year. Cocks credits player growth and the ability to access product easier thanks to improvements in distribution as reasons for the stellar performance for the smaller tentpole release.
As for long-term growth and expectations for Hasbro, Cocks noted that TCGs might be the top dog in gaming going forward.
“Trading cards, over the last year, emerged as the No. 1 category in toys and games,” Cocks said. “I think they are bigger than building blocks now, and we see that as a generational structural shift not just a one-time thing.”
While revenue in Q4 of 2026 might be a bit lower due to the amount of early Reality Fracture sales ended up in Q3, Cocks is already looking forward to 2027. The main reason for that is the proven success of Universes Beyond products not only reaching fans of other IPs but converting them into Magic fans who stick around for years. He said they don’t measure Magic players in months, but in years and generations because even lapsed played often return to Magic.
The next UB set will be Magic: The Gathering | Marvel: Darkhold Destiny and Cocks said it represents how Magic wants to work with partners by presenting their IP authentically and make them part of Magic. The set will tell an original Marvel story through Magic and center around a new character with an additional companion comic. And, like all sets in 2027, Magic: The Gathering | Marvel: Darkhold Destiny will feature a full product suite, including four Commander Decks, bundles, and more.
Read the press release and view the Q3 financial results presentation from Hasbro.
