Mattel Inc. (MAT) Stock Surges After Q3 Earnings Results

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Mattel, Inc. (NASDAQ:MAT) stock was flying high on Thursday after it released its earnings report for the third quarter of 2016.

Mattel, MAT stockMattel reported earnings per share of 70 cents for the third quarter of 2016. This is the same as what it reported for its earnings per share during the same time of last year. However, it came in one penny below what Wall Street was looking for in the quarter.

Mattel’s revenue for the third quarter of 2016 was $1.79 billion. Just like with the earnings per share, the company’s revenue remained the same as what it was in the third quarter of 2015. This allowed the toy company to beat out analysts’ estimate of $1.77 billion for the quarter.

MAT reported $324.1 million in adjusted operating income for the third quarter of 2016. This is an increase over the $317.4 million in adjusted operating income that it reported during the same time of last year.

Mattel also announced that it will be paying a dividend of 38 per share to investors for the fourth quarter of 2016. This is the same dividend that it paid out to shareholders in the fourth quarter of 2015. The dividend will be payable on Dec. 9, 2016 to investors on record as of Nov. 22, 2016.

“Overall, our strategies are generating good progress on many fronts, and while we still have a critical fourth quarter to execute, we remain broadly on track to deliver on our full-year outlook,” Christopher Sinclair, Chairman and CEO of Mattel, said in a statement.

MAT stock was up 6% as of Thursday morning.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/10/mattel-mat-stock-2/.

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