Has Mattel Finally Reached a Turning Point?
Shares of Mattel (NASDAQ: MAT) recently soared after the company's second-quarter numbers beat Wall Street's expectations. The toy maker's revenue grew 2% annually (5% in constant currency terms) to $860 million, clearing estimates by $38 million. Its adjusted loss of $0.25 per share, which topped expectations by $0.14, also narrowed from a loss of $0.54 a year earlier.
That earnings beat was surprising -- Mattel spooked the bulls earlier this year with expectations for flat sales growth, historically weak margins, and soft earnings growth. So has Mattel's business finally reached a turning point? Let's dig deeper to find out.
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