|Girl power propels Mattel earnings
Mattel's third-quarter net income grew by 16 percent, buoyed by higher sales of American Girl dolls and Monster High products and strength in all regions.
Its results beat Wall Street expectations. Shares gained by 57 US cents to US$42.12 in pre-market trading.
The largest US toy company earned US$422.8 million, or US$1.21 per share, for the three months ended September 30. That's up from US$365.9 million, or US$1.04 per share, in the prior-year period.
Removing a tax benefit, earnings were US$1.16 per share. Analysts predicted earnings of US$1.11 per share.
Revenue for the California company was up 6 percent to US$2.21 billion from US$2.08 billion.
American Girl sales increased 20 percent.
Mattel Inc also declared a fourth-quarter dividend of 36 US cents per share.—AP