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Stock impact report

Why Is Funko (FNKO) Stock Soaring Today [Yahoo! Finance]

Funko, Inc. - Class A (FNKO) 
Last funko, inc. - class a earnings: 3/5 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.funko.com/investor-relations
Company Research Source: Yahoo! Finance
results that outperformed analysts' revenue and EPS expectations. Lastly, while revenue guidance for next quarter fell short of Wall Street's estimates, full-year adjusted EBITDA guidance was nicely ahead. Notably, the bottom line benefitted from key initiatives implemented in the fiscal year, including 1.) Elimination of unprofitable product lines and SKUs. 2.) Workforce reductions 3.) aggressive reductions in inventory levels. Moving on, while the market might cheer the improved profitability, management noted that some of these recent moves might impact topline growth in the year, as full-year sales growth is expected to be flat. The company also highlighted other growth headwinds, including "a softer content schedule primarily due to the recent Hollywood strikes" and "uncertainty around shipping costs primarily due to current hostilities in the Red Sea." In addition, the company Funko announced a leadership update with Steve Nave, Chief Financial Officer (CFO) and Chief Operat Show less Read more
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