Mattel Reports Second Quarter 2018 Financial Results
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Mattel (MAT) Misses Q2 EPS by 26c, Sales Miss; to Cut 2,200 Jobs
July 25, 2018 4:13 PM EDTMattel (NASDAQ: MAT) reported Q2 EPS of ($0.56), $0.26 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $840.7 million versus the consensus estimate of $851.82 million.
Company announced a reduction of over 2,200 positions, representing 22% of global non-manufacturing workforce, as well as planned sale of manufacturing sites in Mexico.
"Mattel is a company with great potential. We see a lot of opportunities, but there has been a big discrepancy between our financial performance over the last few years and where the company should be,"... More
