Toy maker Mattel, Inc. (NASDAQ: MAT) has reported mixed results for the third quarter of 2024 when sales declined due to weak demand across the company’s operating segments.
Net sales decreased 4% from last year to $1.84 billion in the September quarter. Domestic and international sales declined by 3% and 5% respectively.
Net income more than doubled to $372.4 million or $1.09 per share during the three months. Adjusted profit increased 6% year-over-year to $1.14 per share in Q3.
“We expect topline growth in the fourth quarter driven by a good holiday season, market share gains, and a toyetic theatrical slate and are well positioned for long-term growth and shareholder value creation,” Mattel’s CEO Ynon Kreiz said.
The post Mattel (MAT) Q3 2024 adj. earnings rise despite lower sales first appeared on AlphaStreet.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
