Why Mattel Fell 12% This Morning

Shares of Mattel (NASDAQ: MAT) plunged nearly 12% in early-morning trading Wednesday after its report of fiscal Q1 2020 financial results Tuesday night. By 12:10 p.m. EDT the shares had recovered about half their losses, but they remain down 5.6%.

Mattel's quarterly sales -- $594.1 million -- fell short of analysts' projected $652.7 million. The toy maker's quarterly loss was also worse than expected -- $0.61 per diluted share versus an expected $0.41 loss.  

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Source Fool.com