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Mattel Reports Mixed Q2 Results: EPS Beat, Sales Miss
Mattel, Inc. (NASDAQ:MAT) reported its second-quarter financial results Tuesday. Here's a look at the details from the report.
The Details: Mattel reported quarterly earnings of 19 cents per share, which beat the analyst consensus estimate of 17 cents by 11.76%. Quarterly sales came in at $1.08 billion which missed the analyst consensus estimate of $1.10 billion by 1.59% and represents a 0.64% decrease from the same period last year.
Mattel reported adjusted gross margin increased to 49.2%, primarily driven by savings from the Optimizing for Profitable Growth program, cost deflation, lower sales adjustments and lower inventory management costs.
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