Key facts
- Mattel reported a second-quarter adjusted profit of 1 cent per share, below the 4 cents estimated by analysts.
- The company's net sales for the three months ended June 30 were $1.12 billion, surpassing the $1.10 billion estimate.
Mattel misses Q2 profit estimates amid consumer spending slowdown
IN SHORT
Mattel reported a second-quarter adjusted profit of 1 cent per share, missing analyst expectations of 4 cents. Net sales, however, exceeded estimates at $1.12 billion, driven by demand for traditional toys despite broader consumer spending cuts.
Key Numbers
1 centadjusted profit per share
4 centsestimated profit per share
$1.12 billionnet sales
$1.10 billionestimated net sales
11%increase in advertising and promotion expenses
3% to 6%expected net sales growth
$1.27 to $1.39expected adjusted profit per share
Who's Involved
Mattel
toy maker that missed Q2 profit estimates
↳ Why This Matters
The results highlight the impact of broader economic pressures on consumer spending for non-essential goods like toys, affecting Mattel's profitability despite resilient sales.