EL SEGUNDO, California — Mattel Inc. (MAT) on Thursday reported a second-quarter loss of $11.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the El Segundo, California-based company said it had a loss of 3 cents. Earnings, adjusted for non-recurring costs, came to 1 cent per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The toy maker posted revenue of $988.2 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $999.9 million.
Mattel shares have declined 19 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 3 percent. In the final minutes of trading on Thursday, shares hit $25.18, a decline of 36 percent in the last 12 months.
Keywords: Mattel, Earnings Report