Mattel Inc. Q3 Adjusted Earnings Beat Estimates

(RTTNews) - Mattel Inc. (MAT) reported a profit for its third quarter that advanced from the same period last year

The company's earnings came in at $812.6 million, or $2.29 per share. This compares with $311.3 million, or $0.89 per share, in last year's third quarter. On an adjusted basis, the earnings declined to $0.84 per share from $0.95 per share in the last quarter.

Analysts had expected the company to earn $0.72per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.3% to $1.76 billion from $1.64 billion last year.

Mattel has also revised its yearly guidance. The company improved its revenue growth expectation from 12% to 14% to approximately 15% at $4.58 billion. The forecast for adjusted earnings before taxes and depreciation was also improved to $900 million to $925 million, from $875 million to $900 million in the previous outlook. Mattel has kept its capital expenditure guidance unchanged at $150 million to $175 million. Analyst forecast for revenue for full-year is $5.23 billion