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.