February 9, 2023

Mattel’s Sales of Barbie Fell but Wall Street Still Likes the Stock

Mattel‘s profit fell short of expectations in the holiday quarter as shoppers pulled back from more expensive toys—doll sales plunged—in an apparent response to a tougher economy. Yet analysts tracking the stock remained upbeat, highlighting the company’s ability to pump out cash and a plan to resume share buybacks after nearly a decade.

Mattel

said on Wednesday that adjusted earnings for the fourth quarter dropped 66% from a year ago to 18 cents per share. The expectation among analysts polled by FactSet was 29 cents. Revenue was $1.4 billion, while analysts had expected $1.68 billion.

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