Mattel: 2Q Earnings Snapshot
EL SEGUNDO, Calif. (AP) _ Mattel Inc. (MAT) on Thursday reported a loss of $108 million in its second quarter.
On a per-share basis, the El Segundo, California-based company said it had a loss of 31 cents. Losses, adjusted for severance costs and non-recurring costs, were 25 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.
The toy maker posted revenue of $860.1 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $820.6 million.
Mattel shares have climbed 25% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. In the final minutes of trading on Thursday, shares hit $12.51, a fall of 23% in the last 12 months.