We recently published Double-Digit Disaster: 10 Big Names Fall Off the Cliff. Toymaker Mattel, Inc. (NASDAQ:MAT) is one of the worst-performing stocks on Thursday.
Toymaker Mattel, Inc. (NASDAQ:MAT) dropped its share prices by 16.39 percent on Thursday to close at $16.89 apiece as investors soured on the company’s dismal earnings performance and lowered revenue guidance for the full year.
In its earnings release, Mattel, Inc. (NASDAQ:MAT) said net income in the second quarter of the year declined by 6 percent to $53.4 million from $56.9 million in the same period last year.
Net sales also decreased by 6 percent to $1.018 billion from $1.08 billion year-on-year.
For the six-month period, net income fell by 54 percent to $13 million from $28.6 million, while net sales dipped by 2 percent to $1.845 billion from $1.889 billion year-on-year.
Photo by
George Filippopoulos on
Unsplash
For the full year, Mattel, Inc. (NASDAQ:MAT) lowered its full-year net sales growth expectations to a range of 1-3 percent from 2-3 percent previously.
Adjusted earnings per share were also pegged at a range of $1.54-$1.66 as compared with the $1.66-$1.72 prior.
While we acknowledge the potential of MAT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.