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Mattel profit misses consensus by 22.7% in Q3

Mattel Inc. said its third-quarter normalized net income amounted to 55 cents per share, compared with the S&P Capital IQ consensus estimate of 71 cents per share.

In the prior-year period, the per-share result came in at a profit of 55 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $188.0 million, compared with $187.1 million in the prior-year period.

The normalized profit margin climbed to 10.5% from 10.4% in the year-earlier period.

Total revenue came to $1.80 billion, compared with $1.79 billion in the year-earlier period, and total operating expenses totaled $1.47 billion, compared with $1.48 billion in the prior-year period.

Reported net income increased 5.8% from the prior-year period to $235.6 million, or 68 cents per share, from $222.7 million, or 66 cents per share.