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Mattel: Q2 Revenues Exceed Expectations; Projects Improved Revenue Performance In H2

Mattel, Inc. (MAT) reported a second quarter adjusted loss per share of $0.26, compared to a loss per share of $0.25, prior year. On average, 14 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.34, for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, net sales were down 15% as reported, and down 13% in constant currency to $732.1 million from last year. Analysts expected revenue of $678.52 million for the quarter.

Ynon Kreiz, CEO of Mattel said: "While revenues were down, they exceeded our expectations, particularly in North America, Barbie, and Games, where we saw sales increases. Total company POS improved significantly and was positive in the quarter, and e-commerce continued to grow strongly in all regions."

The company said it is planning for strong demand for its products in expectation of an improved revenue performance in the second half compared to the first half.

Shares of Mattel were up 5% after hours.

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