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Shares of toy maker
Funko (NASDAQ:FNKO) popped Friday after the company announced estimate-thumping earnings for its fiscal fourth quarter 2020 last night.
Expected to earn $0.14 per share on sales of $195.7 million, Funko instead earned $0.24 per share on sales of $226.5 million. Funko shares are up 8.2% in 10:25 a.m. EST trading in response.
Image source: Funko.
So what
Funko grew its sales only 6% year over year, but sales in the United States in particular surged 18%, helping to offset a 24% decline in sales in the European market, for example. Playing to the pandemic trend of more folks being stuck at home, bored, and wanting to play games rather than just collect figurines, Funko increased its exposure to board games and other products, growing non-figure products sales 30%.