Consumer
Mattel Results Buoyed by ‘Barbie’; Shares Fall on Outlook
- Management still expects full-year sales to match 2022 total
- Softness in industry, global economy temper Mattel’s outlook
A line of Barbie dolls at Mattel headquarters in El Segundo, California.
Photographer: Alisha Jucevic/BloombergThis article is for subscribers only.
Mattel Inc., riding the success of the Barbie movie, posted quarterly results that beat Wall Street estimates, but the toymaker maintained its full-year sales outlook due to softness in the industry and a weaker global economy.
Third-quarter earnings rose to $1.08 a share, Mattel said Wednesday, easily beating the 86-cent average of analysts’ estimates. Sales grew 9.3% to $1.92 billion, exceeding projections of $1.84 billion as shoppers snapped up Barbie dolls and other mainstays like Hot Wheels cars.