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EL SEGUNDO, Calif. - Mattel, Inc. (NASDAQ:MAT) reported better-than-expected first quarter 2025 results on Monday, but shares fell 3% in after-hours trading as the toy maker paused its full-year guidance due to economic uncertainty.
The company posted a loss of $0.05 per share for Q1, beating analyst estimates for a loss of $0.09 per share. Revenue came in at $827 million, surpassing expectations of $786.01 million and rising 2% YoY, or 4% in constant currency.
Despite the earnings beat, Mattel said it is pausing its full-year 2025 guidance until it has "sufficient visibility" given the volatile macroeconomic environment and evolving U.S. tariff situation. The company is taking mitigating actions to offset potential tariff impacts, including diversifying its supply chain and optimizing product sourcing.
"This was a strong quarter for Mattel, with positive performance and continued operational excellence," said Ynon Kreiz, Chairman and CEO of Mattel. "As we navigate the current period of macro-economic volatility, we are adapting with speed, agility, and discipline."
Gross margin expanded 140 basis points to 49.4% in Q1. The company maintained its $600 million share repurchase target for 2025.
Mattel’s top brands saw mixed results, with Hot Wheels gross billings up 4% YoY, while Barbie declined 2% and Fisher-Price fell 3%.
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