Shares of Funko (NASDAQ: FNKO) sank today, down by 13% as of 12:15 p.m. EST, after the company reported third-quarter earnings. The results beat Wall Street's expectations, but the company warned that revenue would decline in the fourth quarter.
Revenue in the third quarter was $191.2 million, easily topping the consensus estimate of $169.3 million. That resulted in adjusted net income of $16.1 million, or $0.31 per share. Analysts were modeling for just $0.10 per share in adjusted profits. The consumer discretionary company, which makes collectible bobble-head figures, said direct-to-consumer e-commerce sales soared by over 150%.
Image source: Funko.
Source Fool.com