Mattel Shares Slip After Results Fall Short Of Street View

By Wallace Witkowski Markets MarketWatch Pulse

Mattel Inc. shares declined in the extended session Thursday after the toy maker's quarterly results fell short of Wall Street expectations. Mattel shares declined 2.1% to $20.85 after hours. The company reported a second-quarter loss of $56.1 million, or 16 cents a share, compared to a loss of $19.1 million, or 6 cents a share, in the year ago period. The adjusted loss for the second quarter was 14 cents a share. Revenue rose to $974.5 million from $957.3 million in the year ago period. Analysts surveyed by FactSet had estimated a loss of 9 cents a share on revenue of $981 million. While worldwide sales for Mattel Girls & Boys Brands were up 10%, sales of Barbie dolls were down 5%, Fischer-Price sales declined 3%, and American Girl doll sales fell 6%.

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