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Mattel, Inc. MAT just released its first quarter fiscal 2016 earnings results, posting earnings of $-0.13 per share and revenue of $869 million.
Currently, MAT has a Zacks Rank #2 (Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
1. Missed earnings estimates. The company posted adjusted earnings of $-0.13, lagging behind our Zacks Consensus Estimate of $-0.08. This number excludes $0.08 from non-recurring items.
2. Beat revenue estimates. The company saw revenue figures of $869 million, surpassing our consensus estimate of $855 million but reflecting a -5.8% year-over-year change.
3. Reported that worldwide gross sales and worldwide net sales were down 1% and 2%, respectively, in constant currency,
4. Posted adjusted operating loss of $36 million.
5. MAT was down $2.14, or 6.48%, to $30.90 as of 4:30 PM ET in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Mattel’s Street EPS and Surprise Percent:
Mattel, Inc. designs, manufactures, and markets a broad variety of family products on a worldwide basis through both sales to retailers and direct to consumers. Mattel’s business is dependent in great part on its ability each year to redesign, restyle and extend existing core products and product lines, to design and develop innovative new products and product lines, and successfully market those products and product lines.
Check back later for our full analysis on Mattel’s first quarter earnings report!
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MATTEL INC (MAT): Free Stock Analysis Report
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