Shares of Mattel (MAT ) were down on Friday morning after the company reported lower earnings that missed analyst expectations.
MAT's Earnings in Brief
- The company reported earnings of 52 cents per share, missing analysts’ view of 93 cents per share.
- Revenue was $1.99 billion, missing analysts’ estimates of $2.16 billion.
MAT’s Chairman and Interim CEO Christopher Sinclair commented: “We are disappointed with our results but moving forward with a heightened sense of urgency to make the necessary changes to enhance our brand relevance and improve our execution.”
The company declared a 38 cent dividend. The dividend will be paid on March 6 to shareholders of record on February 19.
Shares of MAT were down 85 cents, or 3.16%, during pre-market trading Friday.