Mattel earnings for the fourth quarter of 2018 has MAT stock heading incredibly higher on Friday.
Mattel (NASDAQ:MAT) starts off its earnings report for the fourth quarter of 2018 strong with earnings per share of 4 cents. This is a major improvement over its losses per share of 82 cents from the same time last year. It was also great news for MAT stock by blowing past Wall Street’s losses per share estimate of 16 cents for the quarter.
Mattel earnings for the fourth quarter of the year also includes net income of $14.90 million. This is better than the company’s net loss of $281.30 million reported in the same period of the year prior.
Operating income reported by Mattel for the fourth quarter of 2018 comes in at $107.40 million. The toy company’s operating loss from the fourth quarter of 2017 was $251.00.
The most recent Mattel earnings report also has it bringing in revenue of $1.52 billion for the quarter. This is a drop from the company’s revenue of $1.61 billion reported in the fourth quarter of the previous year. This is also a boon to MAT stock by beating out analysts’ revenue estimate of $1.44 billion for the period.
Mattel notes that it saw strong performance for some of its brands during the quarter. This includes Barbie sales increasing by 14% and Hot Wheels sales increasing by 7%. However, Fisher-Price and Thomas & Friends sales were down by 13% from the same time in 2017.
MAT stock was up 23% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.