Earnings Results: Mattel says retailers are still skittish about stocking up on toys, but sticks with its financial outlook

April 26, 2023

Toy maker Mattel Inc. on Wednesday reported better-than-expected first-quarter results and held to its full-year outlook — even after weaker toy demand forced a wave of discounting.

The company reported a first-quarter net loss of $106.5 million, or 30 cents a share, contrasting with a profit of $21.5 million, or 6 cents a share, in the same quarter last year. Revenue slid 22% to $814.6 million, compared with $1.04 billion in the prior-year quarter.

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