Toy Maker Mattel's Shares Are Diving Despite Barbie-Driven Q3 Beat: Here's Why
Portfolio Pulse from Shivani Kumaresan
Mattel Inc (NASDAQ:MAT) reported Q3 FY23 sales growth of 9% YoY to $1.919 billion, beating the analyst consensus estimate. Gross profit increased 15% YoY to $977.9 million, and the gross margin expanded to 51%. Adjusted EPS of $1.08 beat the analyst consensus of $0.86. Despite these positive results, MAT shares are trading lower by 9.60% due to concerns about the challenging macroeconomic background with higher volatility that could impact consumer demand.
October 26, 2023 | 10:18 am
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Despite positive Q3 FY23 results, Mattel's shares are trading lower due to concerns about the challenging macroeconomic background.
Mattel reported strong Q3 FY23 results, beating sales and EPS estimates. However, the company's CFO mentioned that the challenging macroeconomic background with higher volatility could impact consumer demand. This has led to a decrease in the company's share price.
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RELEVANCE 100