Stock Track | Funko Stock Plummets 15% on Disappointing Q3 Results and Lowered Full-Year Sales Guidance

Stock Track11-09

Shares of Funko Inc. (FNKO) plunged 15.02% on November 8, 2024, following the company's third-quarter earnings report and conference call. While Funko reported some positive financial metrics, the overall results and guidance appeared to disappoint investors, leading to the significant stock price decline.

One of the key factors contributing to the sell-off was Funko's lowered full-year net sales guidance. The company revised its net sales outlook down to $1.037 billion to $1.05 billion, citing cautious consumer spending and wholesale customer caution. This guidance reduction potentially reflects softer-than-expected demand and challenges in the company's core business.

Additionally, Funko reported a 7% year-over-year decline in direct-to-consumer (DTC) sales, suggesting difficulties in its e-commerce channel. This could be a concerning sign, as the DTC segment is often viewed as a crucial growth driver for consumer brands.

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(FNKO) plunged 15.02% on November 8, 2024, following the company's third-quarter earnings report and conference call. While Funko reported some positive financial metrics, the ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FNKO","symbol_name":"Funko Inc.","start_time":0,"source_url":"","article_id":"1175356153","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1175356153","pubTimestamp":1731082246,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Funko Inc.  plunged 15.02% on November 8, 2024, following the company's third-quarter earnings report and conference call. 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