Toymaker Mattel, Inc. (NASDAQ: MAT) saw its stock drop by 16.39% on Thursday, closing at $16.89 per share due to disappointing earnings and lowered revenue guidance for the year. Net income for the second quarter fell by 6% to $53.4 million, and net sales decreased by 6% to $1.018 billion year-on-year. For the six-month period, net income dropped by 54% to $13 million, and net sales dipped by 2% to $1.845 billion compared to last year. Mattel (MAT) also revised its full-year sales growth expectations and adjusted earnings per share downwards.

Read more at Yahoo Finance: Mattel (MAT) Falls 16% on Lower Earnings, Guidance