Wizards of the Coast's MTG art by David Sladek published in 2017.
Image: Wizards of the Coast (@David Sladek)

Hasbro’s second quarter results for 2023 are in with the toy and game company overall satisfied with its performance during the three months ended on June 30. Hasbro said that its team had delivered a solid second quarter, with revenue well ahead of expectations, and reduction in inventory.

The company has also been able to make further headway in achieving better cost efficiencies and savings, part of its transformative strategy. Hasbro CEO Chris Cocks commented on the success of the company’s new launches, and specifically Magic: The Gathering’s Universes Beyond set, The Lord of the Rings: Tales of the Middle-earth, which saw singer Post Malone acquire The One Ring 001/001 for $2 million.  

Despite this remarkable event, and the strong reception of the new Magic: The Gathering set, Wizards of the Coast actually lost some of its momentum. Hasbro CFO Gina Goetter said that Wizards of the Coast is performing better than expected regardless.

In terms of net revenues, Wizard of the Coast and Digital Gaming, which are grouped together, in the company’s report, drove in $375.6 million in the second quarter of the year, compared to $419.8 million in Q2 2022. This constituted an 11% decline year-over-year with the company ascribing this to the fewer Magic: The Gathering set releases in the second quarter of 2023.

However, digital, and licensed gaming revenue increased by 33%, owing to both the Magic: The Gathering Arena and D&D Beyond’s strong performance. Operating profit did however decline by 37% year-over-year because of lower revenue and higher royalty expenses associated with the Universes Beyond set and increased investment.

Hasbro is not worried about its prospects, with the company outlining a very ambitious release schedule for the Wizards of the Coast’s Magic: The Gathering throughout 2026. The company has confirmed that multiple new sets and IPs will be welded into the world’s leading trading card game with Fallout, Assassin’s Creed, Jurassic World, and Final Fantasy all arriving in the next couple of months.

Stoyan Todorov

Stoyan entered the hobby over seven years ago and his collection has been growing at a pace his spouse has described as “concerning.” Willing to push the boundaries of the connubial bliss to its extremes, Stoyan is here to bring you the latest updates and developments from the world of board games.


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