Mattel sinks after toy maker drops mixed Q2 results

Mattel shares sank over 12% Thursday after the toy maker posted mixed second-quarter estimates.

The company reported adjusted earnings of $0.19 per share, flat from the same quarter a year prior but above the $0.16 that analysts were expecting.

Revenue, meanwhile, slipped 6% to $1.01 billion, falling short of forecasts of $1.03 billion. International sales helped cushion some of the blow, with international gross billings up 15% while North American demand dipped 9%.

On the product front, Hot Wheels kept rolling, with the vehicles category up 10%. Action figures, building sets, and games jumped 16%. But the company’s dolls segment, which includes Barbie, tumbled 19%.

The results come just after rival Hasbro posted a surprise Q2 beat, with a boost from its popular Wizards of the Coast franchise.

Mattel shares are now flat year to date.

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