EL SEGUNDO, Calif. (AP) — EL SEGUNDO, Calif. (AP) — Mattel Inc. (MAT) on Tuesday reported a loss of $28.3 million in its first quarter.
The El Segundo, California-based company said it had a loss of 8 cents per share. Losses, adjusted for severance costs and non-recurring costs, were 5 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The toy maker posted revenue of $809.5 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $837.6 million.
Mattel expects full-year earnings in the range of $1.35 to $1.45 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MAT at https://www.zacks.com/ap/MAT
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