Mattel Q2 Earnings Highlights: 'Barbie' Foreshadows Future Movie Monetization
Portfolio Pulse from Chris Katje
Mattel Inc (NASDAQ:MAT) reported Q2 financial results, beating Street consensus estimates with net sales and earnings per share. However, North American and International segment sales were down 18% and 3% YoY respectively. The company also reported a 16% YoY decrease in American Girl segment sales. Mattel CEO Ynon Kreiz highlighted the release of the Barbie movie as a key milestone in the company's history. The company bought back $16 million in shares in Q2, bringing the six-month total to $50 million. Mattel confirmed its previous guidance for the full fiscal year.
July 26, 2023 | 8:53 pm
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Mattel's Q2 results beat estimates, but segment sales are down YoY. The company bought back $16M in shares in Q2 and confirmed its previous fiscal year guidance. The release of the Barbie movie is seen as a key milestone.
While Mattel's Q2 results beat estimates, the YoY decrease in segment sales could be a concern for investors. The company's share buyback and the release of the Barbie movie could potentially offset these concerns. However, the overall impact on the stock price in the short term is uncertain.
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