A resurgence in Barbie sales helps lift Mattel's 3Q results
October 30, 2019
NEW YORK (AP) — Mattel Inc., helped by the resurgence of Barbie and other iconic toys, on Tuesday reported third-quarter results that handily beat analysts' forecasts and offered evidence that its multiyear turnaround is gaining momentum.
Its stock soared 19% in after-market trading Tuesday.
Mattel said that it earned $70.6 million, or 20 cents per share, for the three-month period ended Sept. 30. That compares with $6.3 million, or 2 cents per share, in the year-ago period.
Earnings, adjusted for restructuring costs, were 26 cents per share. The average estimate of four analysts surveyed...