Mattel Stock Skyrockets on Earnings Surprise
Expectations were low going into Mattel's (NASDAQ: MAT) third-quarter financial report. The combination of its ongoing turnaround and a tough retail environment due to the trade war with China had Wall Street looking for flat year-over-year revenue and small profitability improvements as the company's restructuring plan began to yield results.
What investors got was far better than they bargained for, sending the stock soaring 13% the day after its report. Let's see what has shareholders so giddy and what it means for the Barbie maker's future.
Image source: Mattel.
Source Fool.com
