Hasbro shows off MTG Q1 revenue boost following Bank of America criticism

Trading cards are hot and Hasbro is profiting through Magic: The Gathering, highlighting an increase in Quarter one revenues over last year through an April 27 conference call. 

Hasbro has been in the financial hot seat following recent and past criticism from Bank of America analysts, along with price drops in stock. The organization has also taken heat from the Magic community, from Magic30 booster packs to the Pinkerton-enforced confiscation of March of the Machine: Aftermath cards that were leaked. But MTG sale revenues are up, according to Hasbro chief executive Chris Cocks, increasing by 16 percent during the first quarter of 2023 over last year. 

“First quarter results came in ahead of our expectations and position Hasbro to meet our full-year financial targets,” said Cocks. 

Highlighting the success of Phyrexia: All Will Be One, MTG brought in 16 percent more in revenue than last year’s Quarter One sales. The numbers are impressive considering Magic: The Gathering earned Hasbro over a billion dollars in sales for the first time in its history during 2022. 

Future quarters for 2023 are projected to continue the revenue increase for Hasbro, through the recent release of March of the Machine and the upcoming release of The Lord of the Rings: Tales of Middle-Earth. Wizards of the Coast and Hasbro will have a sales hurdle to deal with in May, regarding March of the Machine: The Aftermath products after the entire set was leaked early and preorder prices have dropped. 

Despite criticisms, Hasbro is making money off MTG tabletop and digital products. And even if Aftermath bombs, it’s possible that Lord of the Rings sales may make up for any losses.