Hasbro's Magic: The Gathering Tops $600M in Quarterly Revenue; Q3 Net Sales Rise 17.5%

Hasbro's Magic: The Gathering surpassed $600 million in quarterly revenue for the first time, the company said, as Q3 net sales rose 17.5% year over year to $1.5 billion — its fourth straight quarter of double-digit growth. Magic revenue climbed 34% for the quarter, with CEO Chris Cocks citing new player growth and the pre-release of The Hobbit set as a top performer. Hasbro raised its full-year outlook to revenue growth of 7% to 9%, up from a prior forecast of 5% to 7%. "We're entering the holidays with momentum," Cocks said on a Tuesday call with analysts. Starting in Q3, Hasbro began breaking out licensing revenue, which totaled $144 million for the quarter and $417 million year to date. CFO and COO Gina Goetter said the added disclosure provides better visibility into primary revenue streams. The company also launched an AI studio, Sixth Wall, focused on behavioral licensing, and announced a Montréal studio centered on Dungeons & Dragons.