EL SEGUNDO, Calif. (AP) 鈥� EL SEGUNDO, Calif. (AP) 鈥� Mattel Inc. (MAT) on Wednesday reported first-quarter net income of $61 million.
The El Segundo, California-based company said it had net income of 20 cents per share. Losses, adjusted for one-time gains and costs, came to 20 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The toy maker posted revenue of $862.2 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $801.4 million.
Mattel expects full-year earnings in the range of $1.27 to $1.39 per share.
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