© Reuters. Mattel Earnings, Revenue Beat in Q1
By Yasin Ebrahim
Investing.com — Mattel (NASDAQ:) reported Wednesday a surprise first-quarter and delivered an upbeat tone on future growth as strong demand for toys bolstered results.
Mattel shares gained more than 3% in after-hours trade following the report.
Mattel announced earnings per share of $0.08 on revenue of $1.04B. Analysts polled by Investing.com anticipated EPS of $-0.0382 on revenue of $917.02M.
Gross billings in the North America business, which makes nearly half of revenue, increased 67%, driven by strong demand for toys including dolls and action figures.
Looking ahead, the company touted further growth and said it provide further guidance on the earnings call.
“We believe we are well-positioned to gain momentum for the full year. We are revising 2021 guidance to reflect our stronger-than-anticipated first quarter performance and updated outlook for cost inflation, Mattel said.
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