Mattel Stock Falls On Sales Miss, Guidance Cut: Tariffs Hit Barbie

Toy company Mattel Inc (NASDAQ:MAT) reported second-quarter financial results after market close Wednesday.

Here are the key highlights.

What Happened: Mattel reported second-quarter net sales of $1.019 billion, down 6% year-over-year. The net sales missed a Street consensus estimate of $1.068 billion according to data from Benzinga Pro.

The company reported earnings per share of 19 cents, beating a Street consensus estimate of 17 cents per share.

"Our second quarter performance reflects operational excellence in the current macroeconomic environment as we continue to execute our strategy to grow Mattel's IP-driven toy business and expand our entertainment offering," Mattel CEO Ynon Kreiz said.

The CEO said Mattel saw "meaningful gross margin expansion" in the quarter, international growth and ...