Results for: Earnings Surprise

Toy manufacturing and entertainment company Mattel (NASDAQ: MAT) reported mixed results for the first quarter of fiscal year 2024, falling short of analysts’ revenue estimates while exceeding earnings expectations.

Revenue remained flat at $809.5 million, missing the consensus estimate of $832.9 million. However, the company surprised analysts by posting a GAAP loss of $0.08 per share, significantly improving upon its loss of $0.30 per share in the same period last year. This translates to a 41.8% beat on earnings estimates of -$0.14 per share.

The company’s full-year EPS guidance remained unchanged at $1.40, in line with expectations.

Music streaming giant Spotify (SPOT) reported impressive first-quarter 2024 earnings, surpassing market expectations. The company posted adjusted earnings per share of $1.05, significantly exceeding the Zacks Consensus Estimate of $0.63 and representing a 66.67% surprise. This is a notable improvement compared to the loss of $1.24 per share reported a year ago.

Verizon Communications reported quarterly earnings of $1.15 per share, surpassing the Zacks Consensus Estimate of $1.12 and beating year-ago earnings of $1.20. Revenue fell short of expectations, coming in at $32.98 billion compared to the $32.91 billion reported a year ago. Despite the revenue miss, Verizon has outperformed the market this year, and its shares are expected to perform in line with the market in the near future. Investors should be mindful of the industry outlook, as the Wireless National industry is currently ranked in the bottom 18% of Zacks industries.