The company reported a net loss of $9.1 million, or 43 cents a share, compared to a loss of $46.9 million, or $2.14 a share, in the same period one year earlier. But this was still worse than the consensus estimate of a loss of 29 cents a share. Revenue increased 12.1% year over year to $206.7 million from $184.3 million, which beat the consensus estimate of $112.86 million.
Jakks increased its full-year revenue guidance to a range of $660 million to $670 million, greater than analysts' expectations of $649.84 million.
The stock was down 12.83% to $7.27 at 12:06 p.m. More than 1.9 million shares had changed hands, more than triple the average volume of 535,194.
Separately, TheStreet Ratings team rates JAKKS PACIFIC INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate JAKKS PACIFIC INC (JAKK) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk."