Mattel Earnings, Revenue Beat in Q1

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Mattel Earnings, Revenue Beat in Q1
Credit: © Reuters.

By Yasin Ebrahim -- Mattel (NASDAQ: MAT ) reported Wednesday a surprise first-quarter profit as strong demand for toys bolstered results.

Mattel shares gained more than 3% in after-hours trade following the report.

Mattel announced earnings per share of 8 cents on revenue of $1.04 billion. Analysts polled by anticipated a per-share loss of 38 cents on revenue of $917.02 million.

Gross billings in the North America business, which makes nearly half of revenue, increased 25%, driven by strong demand for toys including dolls, games, action figures.

Looking ahead, the company reiterated its guidance for fiscal 2022, forecasting adjusted EPS in a range of $1.42 to $1.48 on net sales growth of 8% to 10%

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