FNKO - Why Is Toy Maker Funko's Stock Gaining Today? | Benzinga
Funko Inc (NASDAQ:FNKO) shares are trading higher after the company reported better-than-expected first-quarter adjusted EPS.
The company reported a first-quarter FY24 sales decline of 14.4% year-on-year to $215.699 million, missing the analyst consensus estimate of $220.267 million.
Sales in the U.S. fell 17.4% to $146.4 million, and Europe dropped 7.2% to $54.2 million.
Adjusted gross margin for the quarter expanded from 31.6% to 40%. The operating loss for the quarter narrowed to $(14.9) million from a loss of $(64.4) million last year.
Adjusted EBITDA for the quarter ...