Mattel Reports Third Quarter Financial Gains, Boost From Dolls

Mattel Reports Third Quarter Financial Gains, Boost From Dolls

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EL SEGUNDO (KTTV) - Mattel Inc, the world's largest toy company, reports third-quarter gains, exceeding Wall Street analysts forecasts.

The El Segundo-based toymaker reported today that it experienced a third-quarter net income of nearly $423 million, or $1.21 per share, up significantly from the same quarter last year when it recorded earnings of $365.9 million, or $1.04 a share.

Mattel attributes some gains to its high demand for dolls like Barbie, Monster High, and American Girl. Sales for its top selling Barbie doll products rose 3% after four consecutive quarters of declines.

Dolls from the Monster High and American Girl lines also continue to boost Mattel's numbers. Mattel reports that sales for American Girl enjoyed a 20% hike in the third quarter.

"We are pleased with our third quarter performance as Mattel delivered growth in every region of the world," said Bryan G. Stockton, Mattel Chairman and Chief Executive Officer, in a statement. "As we enter the all-important holiday season, we have a strong lineup of innovative products, promotions and content, and we will continue to focus on execution to deliver growth and long-term shareholder value."

 

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