[New York Notable Stocks] Mattel Plunges in After-Hours Trading on Weak Q4 2023 Earnings

Global toy company Mattel is plunging more than 20% in after-hours trading. This is believed to be because its fourth-quarter earnings last year fell short of market expectations.

On the 10th (local time), Mattel closed at 21.06 dollars, down 2.23% from the previous trading day. However, in after-hours trading, it plunged by 25.26%.

Mattel's sharp drop is seen as being due to its weak earnings. In the fourth quarter of last year, Mattel posted revenue of 1.77 billion dollars and adjusted earnings per share (EPS) of 0.39 dollars. Both figures fell short of the 1.84 billion dollars in revenue and 0.54 dollars in EPS compiled by market research firm LSEG. In addition, this year's outlook also missed market expectations. This year's projected adjusted EPS is between 1.18 and 1.30 dollars, failing to reach the consensus estimate of 1.75 dollars.

Ynon Kreiz, Chairman and Chief Executive Officer (CEO) of Mattel, said, "We delivered strong top-line growth in the fourth quarter, and consumer demand was positive in all regions on both a quarterly and full-year basis," but added, "Total billings in the United States in December recorded a lower-than-expected growth rate."

This content was produced with the assistance of AI translation services.