On February 9, 2026, Hasbro released its Fourth Quarter and Full Year 2025 earnings — and Magic: The Gathering played a starring role. The company reported:
- Q4 2025 revenue: ~$1.45 billion, beating analyst expectations and driving a stock uptick.
- Adjusted EPS (earnings per share): $1.51, well above forecasts.
- Annual revenue: rose about 14% year-over-year for the full year.
A major contributor to this growth was the Wizards of the Coast & Digital Gaming segment, which saw strong expansion and margin improvement — largely driven by Magic: The Gathering.
Overall, this latest earnings release highlights how Magic has shifted from a niche hobby product to a major revenue and profit driver for Hasbro.
Record Growth for Magic in 2025
Looking deeper into the financial data surrounding Magic:
- Magic: The Gathering revenue in 2025: ~$1.72 billion — about 37% of Hasbro’s total sales, up significantly from prior years.
- In Q4 alone, Magic revenue was reported to have grown over 140% year-over-year, signaling an exceptionally strong finish to the year.
- The Wizards segment overall posted roughly 86% revenue growth in the quarter behind Magic’s success.
This level of performance — especially the outsized contribution from Magic — underscores how Wizards is now a linchpin of Hasbro’s growth strategy
Avatar: The Last Airbender Becomes a Blockbuster MTG Set
According to Draftsim’s latest coverage, Avatar: The Last Airbender has just been confirmed as the third best-selling Magic: The Gathering set in history, trailing only two other Universes Beyond crossover sets: Final Fantasy and The Lord of the Rings.
That milestone is significant because it illustrates the commercial impact of high-profile cross-brand collaborations within Magic — and helps explain part of the revenue surge reflected in the earnings data.
Draftsim’s reporting also highlights other Magic milestones from 2025:
- Two top-three sales sets released in a single year.
- Record back-catalog sales and strong performance in Secret Lair.
- Some in-universe Magic sets also broke historical sales or sales-rate records.
All told, 2025 is widely described as Magic’s strongest year ever from a revenue and market impact standpoint.
Why This Matters
Here’s how these developments feed into the bigger financial picture:
🧠 Hasbro’s Strategic Shift
Magic’s performance is emblematic of a broader pivot at Hasbro:
- Traditional toy sales have softened, but gaming and digital IP are gaining share.
- Hasbro’s stock recently reached multi-year highs, partly on the strength of Magic and digital gaming.
- The company even announced a $1 billion share buyback, signaling confidence in its earnings trajectory.
Magic’s growth has helped offset weakness in some traditional product lines and has helped validate Hasbro’s strategy of leaning into intellectual property and digital play experiences.
Outlook for 2026 and Beyond
Though the earnings release also offered conservative revenue guidance for the full year 2026 — partly due to broader economic caution — the Magic franchise remains a bright spot. Hasbro leadership pointed to Magic and related gaming as long-term growth drivers even if consumer demand softens elsewhere.
And with major collaborations and product releases already fueling significant demand — especially crossover IP products — Magic: The Gathering looks well positioned to remain a financial leader for the company.
