Hasbro has reported their third quarter financials and yet again the toy company is being driven in results by its Wizards of the Coast division, and especially the ever growing sales of Magic: The Gathering.

Magic: The Gathering posted its best ever quarter in Q3 of 2026, and it brought in $616m over the last three months, the first time that it has been over $600m in history. It's over 34% up year on year, and contributes to Wizards of the Coast and Digital Gaming being up 31% year over year. Driving the results for Magic: The Gathering was The Hobbit, which has become the 4th best selling set of all time despite having less products in its line up than most sets - no Commander decks, and the tie-in Battle of the Five Armies product isn't releasing until next year. 

Furthermore according to Hasbro CEO Chris Cocks, Hobbit's sales are pacing Tales of Middle-Earth, the first full Universes Beyond (UB) set and former best selling set, and might even out do it over time despite the fact that it has a lot less associated products with it. It's also engaging with players at stores more meaningfully than most Universes Beyond releases as it had the highest ever pre-release turnout for a UB set.

No word if this is an accurate depiction of Hasbro CEO Chris Cocks.

Another big driving factor is Reality Fracture, which released at the tail end of Q3 and is exceeding expectations for Hasbro. Distribution was able to get ahead, and part of what let the record quarter happen was sales they might normally expect to happen in Q4 happened in Q3 due to that and general interest in the set. Joining those new releases is record sales in the 'backlist' and Secret lair. The backlist (sets previously released) in 2026 has already outsold 2025 when you add in the first few weeks of Q4 (aka October), with the top sellers for it being Foundations, Final Fantasy, and Tales of Middle Earth. Nowadays you can find Magic: The Gathering in almost 40k shops across the world, with over 13k of them being Wizard Play Network (WPN) partners.

"We manage the game for fans and not quarterly results" Chris Cocks, CEO Hasbro

One area that needs improvement is distribution, as Wizards of the Coast has had multiple product delays, and even cancellations this year. During the talk Chris Cocks said distribution was up 40%, and 30% in WPN, and that they are further growing it. Many of the problems are related to issues with shipping around the Panama Canal.

This prosperity for Wizards when there's also layoffs happening has led to a unionization movement at Wizards of the Coast, with the MTG Arena team unionizing earlier this year, and the main Wizards of the Coast studios seeking to unionize as well. Hasbro declined to voluntarily recognize the union earlier this month, so they will be going to a national labor relations board (NLRB) vote in the near future.

While there was a lot of talk about Magic: The Gathering in Hasbro's financials, and some talk about 2027's video games with Exodus, and Warlock, one game was eerily absent from it all. Whether for better or worse, there was almost no mention of Dungeons and Dragons, with it only getting a single mention during prepared remarks by CEO Chris Cocks when mentioning them licensing different IPs, much like the Dungeons and Dragons Warcraft content coming this year. Even that mention though was surrounded by Peppa Pig talk and shows how at least for now the fiscal talk wasn't focused on D&D.