Consumer
Mattel Posts Narrower Loss, Thanks to Hot Wheels Growth and Lower Costs
Mattel Inc. Hot Wheels brand matchbox cars.
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
Mattel Inc. shares rose in extended trading after the toymaker reported a smaller-than-expected first-quarter loss, benefiting from fast sales of its Hot Wheels miniature cars and lower costs.
Shares of the El Segundo, California-based company rose as much as 5.3% to $19.74 after the results were announced. Rival Hasbro Inc. reports its financial results on Wednesday before markets open.