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Mattel Earnings: MAT Stock Gains as Q2 Sales Up 2%, Top Outlook

Karl Utermohlen

Mattel (NASDAQ:MAT) reported its quarterly earnings figures late Thursday afternoon, amassing an adjusted loss narrower than Wall Street expected, while sales surpassed the guidance, lifting MAT stock after hours.

Mattel Earnings

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The El Segundo, Calif.-based toymaker posted fiscal 2019 second-quarter sales of $860.1 million, a 2% increase when compared to the year-ago quarter. Analysts saw Mattel bringing in revenue of $813 million in the consensus guidance, according to a survey carried out by Refinitiv.

On the earnings side of things, the business tallied up a net loss of $108 million, or 31 cents per share, about 55.2% narrower than the loss of $241 million, or 70 cents per share, from the second quarter of 2018. On an adjusted basis when considering one-time items, the company lost 25 cents per share, about 15 cents narrower than the Wall Street loss guidance of 40 cents per share.

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“This quarter further demonstrates the continued momentum of our multi-year turnaround strategy,” Ynon Kreiz, chairman and CEO of Mattel said in a statement. The toy brand has been seeking to revitalize its business since the closure of Toys R Us.

Speaking of the former industry juggernaut, Toys R Us is opening its doors once again later this year with a revamped look and, hopefully, feel.

MAT stock is up about 3.4% after hours today following these results. Shares had been gaining 0.2% during regular trading hours.

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