Mattel shares spike after earnings beat, new CFO named after whistleblower probe ends

Shares of Mattel jumped as much as 20% in extended trading Tuesday after the company posted better-than-expected earnings for the third quarter and announced it would be hiring a new chief financial officer in the wake of a whistleblower investigation.

The company said auditors had completed their investigation into allegations that the company had made accounting errors in historical periods. Auditors determined that income tax expense was understated by $109 million in the third quarter of 2017, and overstated by $109 million in the fourth quarter of 2017, with no impact for the full year, the company said.

A quick peek into $MAT's health (stopped out) and risk (32.08%).

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

HSBC CFO says to expect 'material action' against struggling business unitsThe bank is looking at ways to reshape its non-ring-fenced bank in the United Kingdom and its U.S. business, HSBC Group CFO Ewen Stevenson said.
Source: CNBC - 🏆 12. / 72 Read more »

Spotify CFO says podcasts will be as important to the company as streaming is for NetflixWhile podcasts require an investment, eventually 'we'll grow faster and be more profitable as a consequence,' Spotify CFO Barry McCarthy says. do r*ta*ds pay for podcasts ?
Source: CNBC - 🏆 12. / 72 Read more »