Mattel’s Profit Misses Estimates as Barbie Slump Endures
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Mattel Inc., the world’s largest toymaker, posted profit that trailed analysts’ estimates as sales of Barbie dolls dropped for a fourth straight quarter.
Third-quarter net income shrank 22 percent to $331.8 million, or 97 cents a share, from $422.8 million, or $1.21, the El Segundo, California-based company said today in a statement. Analysts had predicted $1.02 a share, on average, based on 12 estimates compiled by Bloomberg.