Mattel Inc (NASDAQ:MAT) reported earnings this afternoon and they beat expectations. However, stock prices initially fell because several news feeds misreported the earnings details saying the company missed on profitability when they actually beat.
In the post market trading session, shares of MAT are currently up 5% so far at $15.17.
In the 4Q, MAT reported 11 cents Earnings per Share compared to a 3 cent estimate (this is the one newsfeeds reported wrong). They came in slightly lower on revenue with $1.47 Billion versus a $1.50 Billion estimate.
Importantly, their gross margin was 48.9% beating even the highest estimate of 47.4%. That’s all great news and the company has a conference call that I’m going to tune into at 5 PM. I’ll be keeping an eye on the performance of the shares, as I’d like to see a strong move over $16 by the morning!