Shares of toymaking company Funko (NASDAQ: FNKO) surged 21.7% through noon ET Friday after the company reported much-stronger-than-expected (read: "much-less-weak-than-expected") financial results yesterday evening.

Analysts had forecast that Funko would lose a staggering $0.92 per share on sales of only $235.6 million for its first quarter of 2023. As it turned out, the loss was bad but not that bad. Funko lost $0.49 per share, and its quarterly sales were $251.9 million.

That's the good news. Now here's the bad.

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Source Fool.com