Toy maker Mattel, Inc. (NASDAQ: MAT) has reported blended outcomes for the third quarter of 2024 when gross sales declined resulting from weak demand throughout the corporate’s working segments.
Web gross sales decreased 4% from final 12 months to $1.84 billion within the September quarter. Home and worldwide gross sales declined by 3% and 5% respectively.
Web earnings greater than doubled to $372.4 million or $1.09 per share in the course of the three months. Adjusted revenue elevated 6% year-over-year to $1.14 per share in Q3.
“We anticipate topline progress within the fourth quarter pushed by vacation season, market share positive aspects, and a toyetic theatrical slate and are properly positioned for long-term progress and shareholder worth creation,” Mattel’s CEO Ynon Kreiz stated.
