Mattel Results Buoyed by ‘Barbie’; Shares Fall on Outlook

10/26/2023 06:00
Mattel Results Buoyed by ‘Barbie’; Shares Fall on Outlook

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.

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 saidBloomberg Terminal 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.

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