Earnings

Shares of Barbie owner Mattel skyrocketed more than 15 percent on Thursday, after the company reported better-than-expected fourth quarter earnings and revenue after the closing bell.

The toy company said it earned 4 cents per share on $1.52 billion in revenue in the quarter ended Dec. 31. Wall Street had expected Mattel to post a loss of 16 cents on $1.44 billion in revenue, according to Refinitiv.

“Our fourth quarter results demonstrate meaningful progress in executing our strategy and significant improvement over last year,” Ynon Kreiz, CEO of Mattel, said in a statement Thursday. “We remain focused on advancing our strategy to restore profitability and regain top-line growth in the short-to-mid-term and are laying the groundwork to capture the full value of our IP in the mid-to-long-term.”

This story is developing. Please check back for updates.

Products You May Like

Articles You May Like

Morgan Stanley shares climb after beating estimates on wealth management, trading
Medicare for All is dragging down health-care stocks and there could be more pain ahead
The casino industry exemplifies decades of radical transformations in corporate America
US will reportedly press allies to keep Huawei out of 5G in Prague meeting
Earnings and data could be proof that slowdown fears were overblown

Leave a Reply

Your email address will not be published. Required fields are marked *