JAKKS jumps after Q3 results beat expectations, guidance above consensus

|About: JAKKS Pacific, Inc. (JAKK)|By:, SA News Editor

Shares of JAKKS Pacific (JAKK +7.3%) jump after the toy maker's Q3 results beat expectations handily.

Management reiterated full-year guidance, seeing EPS of -$2.56 (consensus of -$2.74) and revenue of $620M ($612.3M). When asked about guidance in light of the Q3 beat on the conference call, CFO Joel Bennett responded, "We are taking a cautious approach to ensure that the retail sell-throughs and buy-ins stay consistent. At the same time, the sell-throughs that we have currently on our products throughout the segmentation from Halloween to our evergreen toy products are doing extremely well."

B. Riley promptly upgraded JAKKS to Buy from Neutral with a PT of $8.50.