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‘Barbie’ Lifts Mattel Q3 Results, But Shares Slide In After-Hours Trading

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deadline.com
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Mattel beat Wall Street expectations in the third quarter for revenue and adjusted earnings per share, thanks in large part due to the successful release of Barbie in July.

Revenue in the period ending September 30 rose 9% over the same quarter a year ago to $1.9 billion. Earnings without a non-cash charge came in at $1.08 per share, up from 82 cents in the year-ago frame.

Including the non-cash charge of 59 cents for establishing a valuation allowance on foreign deferred tax assets, EPS totaled 41 cents.

Analysts had expected earnings of 86 cents a share and revenue of $1.83 billion. Despite the double beat, Mattel shares slid 7% in after-hours trading after finishing the regular trading day down a fraction, at $20.11.

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