— Funko Inc. (NASDAQ: FNKO) reported its third-quarter 2019 adjusted earnings of $0.38 per share versus $0.32 per share expected.
— Net sales jumped by 26% to $223.3 million versus $220.44 million expected. This was driven primarily by an increase in the number of active properties and strong sales demand in the US and Europe.
— The number of active properties increased by 13% to 627 from 553 in the third quarter of 2018 and net sales per active property increased by 11%.
— On a geographical basis, net sales in the United States increased by 21% to $147.3 million and net sales internationally increased by 37% to $76 million with strong growth in Europe.
— On a product category basis, net sales of figures increased 24% and net sales of other products increased 33% driven primarily by the continued growth of its Loungefly and other Softline products and the introduction of its games product line.
— Looking ahead into the full year 2019, the company reiterated net sales outlook to be in the range of $840 million to $850 million. This is compared to the Street’s view of $848.5 million.
— Adjusted earnings for the full year are still anticipated to be in the range of $1.15 to $1.22 per share, versus consensus estimates of $1.24 per share.
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