Per Forbes, Marvel Entertainment did not do as well in the second quarter as anticipated:
Marvel Entertainment was short of heroes in its last quarter. Heavy competition led to weak sales, resulting in the company missing its earnings expectations.
Marvel Entertainment (nyse: MVL – news – people ) shares fell 5.1%, or $1.23, to close at $22.72 after the company reported Tuesday its second-quarter net income rose 78.5% to $29.1 million, or 34 cents per share, from $16.3 million, or 19 cents per share, a year ago. Analysts polled by Thomson Financial expected earnings per share of 39 cents.
David Bank, an analyst at RBC Capital Markets, said soft toy sales suppressed profits. Second-quarter revenues at the company’s toy segment declined 24% to $19.3 million from the same quarter a year ago.
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