Why Mattel Tumbled 12% in February
Shares of Mattel (NASDAQ: MAT) fell 12.1% in February, according to data from S&P Global Market Intelligence, after the toymaker disappointed Wall Street with a big swing and a miss on fourth-quarter earnings.
Mattel saw revenue tumble 22% from the year ago period to $1.4 billion, a 19% drop after accounting for the impact of foreign currency exchange rates, while earnings plummeted to $0.18 per share from the $0.56 per share generated last year. That was well below analyst expectations of profits of $0.29 per share on sales of $1.68 billion.
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Source Fool.com
