One site for Breaking News, Politics, Sports, Entertainment & more!

Newz Chooze
Back

Mattel Inc. shares rampaged in the extended session, rising 17% Thursday after the company beat Wall Street earnings and revenue expectations. The company reported fourth-quarter net income of $14.9 million, or 4 cents a share, compared with losses of $281.3 million, or 82 cents a share, in the year-ago period. Adjusted for items such as changes to the U.S. tax code and severance, among other things, full-year losses were $1.14 a share; it reported adjusted earnings of 4 cents a share for the fourth quarter. Revenue fell to $1.52 billion from $1.61 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted losses of 16 cents a share on revenue of $1.44 billion, and the FactSet consensus for full-year adjusted losses was $1.10 a share. For the first quarter, analysts expect adjusted losses of 37 cents a share on sales of $702 million. Mattel stock has fallen 27% in the past year, with the S&P 500 index rising 1.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.