Mattel Inc. announced a smaller loss for the first quarter compared to the same time last year, successfully exceeding market predictions. The company reported a loss of $28.3 million, equating to a loss of $0.08 per share. This is significantly less than the same quarter of the previous year when the company experienced a loss of $106.5 million or $0.30 per share.
When factoring out special items, Mattel Inc.'s adjusted earnings for the period was a loss of $0.05 per share. This outperformed the average analyst prediction of a loss of $0.12 per share, as collected by Thomson Reuters.
However, the company did experience a slight decline in revenue for this quarter, with a decrease of 0.6% to $809.5 million, down from $814.6 million in the same quarter of the previous year.
At a quick glance, Mattel Inc.'s earnings, as per Generally Accepted Accounting Principles (GAAP):
- Earnings (Q1): -$28.3 million vs. -$106.5 million last year.
- Earnings per share (Q1): -$0.08 vs. -$0.30 last year.
- Revenue (Q1): $809.5 million vs. $814.6 million last year.
Concerning guidance, the company predicts full-year earnings per share to range from $1.35 to $1.45.
