Shares of toymaker Mattel Inc. rose 4 percent after the company beat analyst expectations for its first quarter earnings announced April 26.
The El Segundo-based company reported a first-quarter net loss of $311.3 million ($0.90 a share) compared to a net loss of $113.2 million and revenue was $708.4 million, a 3.7 decrease, in the same quarter last year.
Analysts were expecting revenue to be between $680 million to $690 million. The company’s stock closed $13.98 end of trading day Thursday, up 3.7 percent from the previous day’s close.
Ynon Kreiz, who joined the Mattel board last June, started his new role as Mattel’s chief executive today. He replaces Margo Georgiadis, a former Google executive, who is heading to Ancestry.com Inc., to pick up the chief executive role.
Manufacturing and trade reporter Shwanika Narayan can be reached at firstname.lastname@example.org or 323-556-8351. Follow her on Twitter @shwanika.
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