For the second quarter, Mattel (NASDAQ:MAT) saw a rise in net income, beating Wall Street expectations.
Earnings and Revenue The company experienced stronger-than-expected EPS and revenues. The company reported EPS of 28 cents a share versus the 21 cents a share estimate and revenues of $1.16 billion versus the $1.13 billion estimate. The company's reported EPS came in above the high estimate of 12 analysts of a profit of 25 cents.
The company's net income for the quarter was $96.2 million. According to the reported number, this is up 19.5% from last year's levels. Revenue fell 0.3% from $1.16 billion in the same period last year.
Company Fundamental Trends Revenue declined last quarter after shrinking 2.5% to $928.4 million in the first quarter.
History Against Expectations The company topped expectations last quarter after falling short of forecasts in the first quarter. It reported net income of 6 cents versus a mean estimate of net income of 7 cents per share.
Official Comment: "In the second quarter, we delivered solid performance as we continued to build momentum with key brands, such as Barbie, Monster High, American Girl and Hot Wheels, as well as the Batman - The Dark Night Rises property, despite a continued cautious global retail environment and a strengthening U.S. dollar," said Bryan G. Stockton, Mattel Chief Executive Officer. "As we look forward, we remain focused on executing our portfolio of strong brands, countries and customers to deliver in the all-important holiday season."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.