{"id":76791,"date":"2023-10-25T19:26:33","date_gmt":"2023-10-25T23:26:33","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/mattels-stock-drops-7-despite-toy-makers-barbie-phenomenon\/"},"modified":"2023-10-25T19:26:36","modified_gmt":"2023-10-25T23:26:36","slug":"mattels-stock-drops-7-despite-toy-makers-barbie-phenomenon","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=76791","title":{"rendered":"Mattel\u2019s stock drops 7% despite toy maker\u2019s Barbie \u2018phenomenon\u2019"},"content":{"rendered":"
\n

Shares of Mattel Inc.
\n MAT,
\n -0.49%<\/bg-quote>
\n fell more than 7% in the extended session Wednesday despite an earnings beat for the toy maker and its wildly successful Barbie movie.<\/p>\n

Mattel earned $146 million, or 41 cents a share, in the quarter, compared with $290 million, or 80 cents a share, in the year-ago period. <\/p>\n

\n

Adjusted for one-time items, Mattel earned $1.08 a share. Analysts polled by FactSet had expected adjusted earnings of 86 cents a share. <\/p>\n

Sales rose 9% to $1.92 billion, the company said. The analysts surveyed by FactSet expected sales of $1.84 billion. <\/p>\n

That included an increase of 10% for North America sales, the company said, in part thanks to growth in its dolls segment, which includes Barbie and Disney Princess and Disney Frozen dolls. <\/p>\n

\u201cOur results benefited from the success of the Barbie movie, which became a global cultural phenomenon, and marked a key milestone for Mattel,\u201d Chief Executive Ynon Kreiz said in a statement. <\/p>\n

Sales of its American Girl segment, however, dropped 13%, the company said. <\/p>\n

The toy maker also updated its guidance for the year, calling for per-share earnings between $1.15 and $1.25, compared with a previous guidance of between $1.10 and $1.20. <\/p>\n

Mattel also called for EBITDA between $925 million and $975 million for the year, compared with a prior expectation of between $900 million and $950 million. Sales guidance for the year remained at \u201ccomparable\u201d to 2022 sales of $5.435 billion. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Mattel Inc. MAT, -0.49% fell more than 7% in the extended session Wednesday despite an earnings beat for the toy maker and its wildly successful Barbie movie. Mattel earned $146 million, or 41 cents a share, in the quarter, compared with $290 million, or 80 cents a share, in the year-ago period. Adjusted […]<\/p>\n","protected":false},"author":1,"featured_media":76792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-76791","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nMattel\u2019s stock drops 7% despite toy maker\u2019s Barbie \u2018phenomenon\u2019 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Mattel Inc. 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