Mattel earnings below expectations because of the euro
Mattel announced Friday a lower than expected earnings in the second quarter, a weak euro offset the benefits of licensed Toy Story 3 and strong sales of Hot Wheels.
The manufacturer of the Barbie doll has reported a profit of $ 51.6 million, or 14 cents per share, against 21.5 million (six cents) a year earlier.
Turnover increased 13.4% to $ 1.02 billion but the effects of unfavorable exchange slashed three points to this growth.
The Thomson Reuters consensus I / B / E / S gave an EPS of 15 cents and revenue of $ 1.02 billion.
Sales in the U.S. increased by 17% and 9% in the rest of the world.
Sales of Barbie and Hot Wheels were up 6% and 11% respectively, while those of American Girl fell 4%.
