Consumer
Mattel Lifts Profit, Overcomes Barbie Sales Dip; Shares Jump
Toy company stocks are trading below recent peaks set in 2022 during the Covid-19 pandemic.
Photographer: Alisha Jucevic/BloombergThis article is for subscribers only.
Mattel Inc., the manufacturer of Barbie and other popular toys, posted third-quarter profit that beat analysts’ estimates even as lower-than-anticipated sales led the company to trim its outlook for full-year revenue.
Earnings rose to $1.14 a share, excluding some items, Mattel said in a Wednesday, beating the 94-cent average of analysts’ estimates compiled by Bloomberg. Mattel left its full-year profit forecast unchanged.