Mattel Inc. (MAT) has announced a notable rise in its third-quarter profits, surpassing analysts' forecasts. The toy manufacturer's net income increased to $372.4 million, equivalent to $1.09 per share. This is a significant improvement compared to the previous year's third-quarter earnings of $146.3 million, or $0.41 per share.
After adjusting for certain items, Mattel's earnings for the period reached $1.14 per share. This figure exceeded the average analyst expectation of $0.95 per share, as reported by Thomson Reuters. Typically, analyst forecasts do not account for special items.
Despite the profit increase, the company experienced a 3.9% decrease in revenue, which dropped to $1.843 billion from the previous year's $1.918 billion.
Summary of Mattel Inc.'s Key Financial Metrics (GAAP):
- Third-quarter earnings: $372.4 million, compared to $146.3 million last year.
- Earnings per share: $1.09, up from $0.41 in the previous year.
- Revenue: Reduced to $1.843 billion from last year's $1.918 billion.
**Outlook:**
The company has projected full-year earnings per share to fall between $1.35 and $1.45.
