JAKKS beats Q3 expectations, releases new Nintendo games ahead of holiday season

seekingalpha10-31 23:51

robtek/iStock Editorial via Getty Images Shares of JAKKS Pacific (NASDAQ:JAKK) are adding to their overnight gains with another 13% move higher as better-than-expected third quarter results and the ...

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Our gross margins remained strong at 33.8%, and our overhead-related cost growth slowed to deliver a quarterly operating margin of 21.2%, a slight improvement over last year,” the company said in a statement. Softer demand for Halloween costumes this year was offset by gains in Outdoor/Seasonal Toy boosting sales to $321.6M, $8M more than the street expected, while profitability improved to $4.79 per share from $4.75 per share a year ago, $0.76 better than the consensus estimate. Regionally, sales were softest in Canada and Asia and strongest in Australia and New Zealand, where a 24% increase in the current period nearly offset a 31.7% drop in the prior year comparison. Sales in the U.S. were up 4.2% from a year ago.  Adding to Thursday’s gains, the company announced the fall launch of Nintendo games, The Legend of Zelda, Matroid, Super Mario and Mariokart to capitalize on holiday demand for video games, and a \"multi-year expansion” of its global licensing agreement with Nintendo of America.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480581150"}