The first quarter results of Mattel, Inc. (NASDAQ:MAT) beat the Wall Street expectations. The more-than-expected results have sent the stock prices to new heights. As per the reports, the hard work put in by its CEO in the form of continuous pledging to revive the poor sales of Fisher-Price toys and Barbie.
How First Quarter Looks Like:
The renowned toy maker based in El Segundo announced financial results lately. It posted a loss of 17 cents per share or $58.2 million in the first quarter. It managed to post 3 cents per share or $11.2 million loss during the same period in 2014. The analysts of Zacks Investment Research anticipated the company to report a loss figure of 9 cents per share resulting from cost related to mergers & acquisitions and severance costs. The company posted a loss figure of 8 cents per share against the odds.
The total revenue of the firm in the first quarter of 2015 was $922.7 million, 2.5% lesser than the revenue it generated in the first quarter of 2014. As per the reports, analysts forecasted total revenue of $898 million in the first quarter. As per the reports, extraordinary efforts put in by the CEO of Mattel made things look easy and hassle-free for the company.
What’s Next:
The company looks forward to performing well in the upcoming quarters. It has decided to enter into a strategic partnership with a firm called Quirky, which helps people turn their raw ideas into products. As per the reports, the partnership has been executed with an objective to crowd source the latest toys for Fisher-Price, Barbie and Hot Wheels brands. The management is hopeful that this step of Mattel will help the company generating profits in the coming months. One of the senior leaders has stated that the company will continue taking such steps in the future as well.
