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Mattel Inc. (NASDAQ:MAT) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.31%.
Mattel Inc. Earnings Cheat Sheet
Results: Net income decreased -17.29% to $306.5 million ($1.12 per diluted share) in the quarter versus a net gain of $370.58 million in the year-earlier quarter.
Revenue: Rose 4.93% to $2.26 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mattel Inc. reported adjusted net income of $1.12 per share. By that measure, the company missed the mean analyst estimate of $1.15. It missed the average revenue estimate of $2.29 billion.
Quoting Management: “We had another great year at Mattel with record sales for both total company and our International division, stronger gross margins and our second year of more than $1 billion in operating profit,” said Bryan G. Stockton, Chairman and CEO of Mattel. “These results are particularly gratifying given the challenging global economic and cost environment.”
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