Mattel Posts Narrower-than Expected Q1 Loss

(RTTNews) - American toy manufacturer Mattel Inc. (MAT) on Thursday posted first-quarter loss of $115.2 million or $0.33 per share, compared to loss of $210.7 million or $0.61 per share in the same period last year. Adjusted loss per share was $0.10 per share, compared to loss of $0.56 per share in the year-ago quarter. On average, 13 analysts polled by Thomson Reuters expected the company to report a loss of $0.35 per share in the quarter. Analysts' estimates usually exclude one-time items.

During the quarter, net sales rose 46 percent to $874.2 million from $594.1 million in the prior-year period, while analysts were looking for revenues of $684.1 million in the quarter.

The company said that worldwide gross billings for dolls were $381 million, up 69 percent from last year, mainly driven by growth in Barbie and American Girl segments.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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