Mattel (NASDAQ: MAT) reported Q1 EPS of ($0.60), $0.21 worse than the analyst estimate of ($0.39). Revenue for the quarter came in at $708.4 million versus the consensus estimate of $694.38 million.

"Mattel delivered positive sales growth in the first quarter, excluding the impact of the Toys "R" Us liquidation," said Ynon Kreiz, incoming CEO of Mattel. "And we continue to see strong momentum in our key Power Brands, with Barbie and Hot Wheels each up double-digits. While Toys "R" Us will present a near term challenge, our transformation plan remains our focus, as we work to deliver improved profitability and return Mattel to its leadership position as a high-performing toy company."

"Our first quarter results reflect continued progress on executing our transformation plan," said Joseph Euteneuer, CFO of Mattel. "In addition, we are tightly managing our working capital, and making disciplined investments in our business."

For the first quarter of 2018, net sales, which included a $30 million net sales reversal, were down 4% as reported, and down 7% in constant currency, versus the prior year\'s first quarter. Gross sales were down 2% as reported, and down 5% in constant currency. Adjusted gross sales were up 2%, excluding the $30 million gross sales reversal. Reported operating loss was $276.6 million, and adjusted operating loss was $160.5 million. Reported loss per share was $0.90 and adjusted loss per share was $0.60

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